Cookson Peirce & Co. Inc. Has $283,000 Stock Position in Tidewater Inc. (NYSE:TDW)

Cookson Peirce & Co. Inc. lessened its stake in Tidewater Inc. (NYSE:TDW) by 4.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,929 shares of the oil and gas company’s stock after selling 168 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Tidewater were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VELA Investment Management LLC increased its position in Tidewater by 11.1% in the 4th quarter. VELA Investment Management LLC now owns 21,100 shares of the oil and gas company’s stock valued at $1,522,000 after acquiring an additional 2,102 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Tidewater in the 4th quarter valued at about $326,000. Cerity Partners LLC bought a new position in shares of Tidewater in the 4th quarter valued at about $25,322,000. Kingswood Wealth Advisors LLC bought a new position in shares of Tidewater in the 4th quarter valued at about $753,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of Tidewater by 71.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company’s stock valued at $2,823,000 after purchasing an additional 16,338 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling

In related news, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Daniel A. Hudson sold 8,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the transaction, the executive vice president now directly owns 104,312 shares in the company, valued at $8,553,584. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares in the company, valued at $7,976,208.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,462 shares of company stock worth $3,716,739. Insiders own 9.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. BTIG Research raised their target price on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Johnson Rice started coverage on shares of Tidewater in a research note on Friday, February 9th. They set a “buy” rating and a $88.00 price objective on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Evercore ISI lifted their price objective on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Pickering Energy Partners started coverage on shares of Tidewater in a research note on Tuesday, January 30th. They set an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $93.00.

Tidewater Stock Performance

Shares of TDW opened at $90.06 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.70 and a current ratio of 1.80. Tidewater Inc. has a twelve month low of $39.41 and a twelve month high of $101.10. The firm has a market cap of $4.71 billion, a P/E ratio of 49.21 and a beta of 1.20. The firm’s 50 day moving average price is $83.60 and its two-hundred day moving average price is $72.06.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The business had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. During the same quarter last year, the business earned $0.30 earnings per share. Tidewater’s revenue for the quarter was up 62.1% on a year-over-year basis. On average, analysts forecast that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

Tidewater declared that its board has approved a stock buyback plan on Thursday, February 29th that authorizes the company to repurchase $48.60 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.