Private Advisor Group LLC Invests $210,000 in Tidewater Inc. (NYSE:TDW)

Private Advisor Group LLC bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,918 shares of the oil and gas company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also made changes to their positions in TDW. Parkside Financial Bank & Trust bought a new stake in shares of Tidewater in the fourth quarter valued at about $33,000. Spire Wealth Management raised its holdings in shares of Tidewater by 608.4% in the fourth quarter. Spire Wealth Management now owns 1,771 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 1,521 shares in the last quarter. Xponance Inc. bought a new stake in shares of Tidewater in the fourth quarter valued at about $204,000. Evergreen Capital Management LLC bought a new stake in shares of Tidewater in the third quarter valued at about $219,000. Finally, O Brien Greene & Co. Inc bought a new position in Tidewater in the third quarter worth about $227,000. 95.13% of the stock is currently owned by institutional investors.

Insider Activity at Tidewater

In related news, EVP Daniel A. Hudson sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $82.00, for a total value of $656,000.00. Following the sale, the executive vice president now owns 104,312 shares in the company, valued at $8,553,584. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Tidewater news, CEO Quintin Kneen sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $109.01, for a total value of $16,351,500.00. Following the completion of the transaction, the chief executive officer now directly owns 501,718 shares of the company’s stock, valued at $54,692,279.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel A. Hudson sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,312 shares of the company’s stock, valued at $8,553,584. The disclosure for this sale can be found here. Insiders have sold a total of 567,722 shares of company stock worth $60,019,454 over the last quarter. Insiders own 8.33% of the company’s stock.

Wall Street Analyst Weigh In

TDW has been the subject of a number of recent research reports. Johnson Rice initiated coverage on shares of Tidewater in a report on Friday, February 9th. They issued a “buy” rating and a $88.00 target price for the company. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. BTIG Research boosted their price target on Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. Evercore ISI boosted their price target on 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 began coverage on 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $98.00.

Tidewater Price Performance

Shares of NYSE TDW opened at $102.80 on Friday. The business’s 50 day moving average price is $97.31 and its 200 day moving average price is $78.11. The firm has a market cap of $5.42 billion, a P/E ratio of 40.96 and a beta of 1.21. Tidewater Inc. has a 52 week low of $42.62 and a 52 week high of $111.42. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Tidewater (NYSE:TDW) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. The firm had revenue of $321.20 million for the quarter, compared to analyst estimates of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. Tidewater’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. On average, sell-side analysts expect that Tidewater Inc. will post 4.68 earnings per share for the current year.

Tidewater declared that its Board of Directors has initiated a share buyback plan on Thursday, February 29th that authorizes the company to repurchase $48.60 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Tidewater Company Profile

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.