Vontobel Holding Ltd. Purchases New Position in Tidewater Inc. (NYSE:TDW)

Vontobel Holding Ltd. purchased a new stake in Tidewater Inc. (NYSE:TDW) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,516 shares of the oil and gas company’s stock, valued at approximately $326,000.

A number of other hedge funds also recently bought and sold shares of TDW. IFP Advisors Inc lifted its holdings in Tidewater by 2,732.0% during the third quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company’s stock worth $101,000 after buying an additional 1,366 shares during the period. SG Americas Securities LLC lifted its holdings in Tidewater by 161.0% during the third quarter. SG Americas Securities LLC now owns 7,214 shares of the oil and gas company’s stock worth $513,000 after buying an additional 4,450 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Tidewater during the third quarter worth $1,972,000. Raymond James & Associates lifted its holdings in Tidewater by 158.1% during the third quarter. Raymond James & Associates now owns 77,843 shares of the oil and gas company’s stock worth $5,532,000 after buying an additional 47,686 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in Tidewater during the third quarter worth $1,621,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on TDW. Pickering Energy Partners began coverage on Tidewater in a report on Tuesday, January 30th. They set an “outperform” rating for the company. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Johnson Rice assumed coverage on Tidewater in a research report on Friday, February 9th. They set a “buy” rating and a $88.00 price target on the stock. Evercore ISI upped their price target on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, BTIG Research upped their price target on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Tidewater presently has an average rating of “Buy” and an average target price of $93.00.

Tidewater Stock Performance

Shares of TDW stock opened at $94.10 on Wednesday. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $85.39 and its 200-day simple moving average is $72.78. Tidewater Inc. has a 12-month low of $39.41 and a 12-month high of $101.10. The company has a market cap of $4.92 billion, a PE ratio of 51.42 and a beta of 1.20.

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

Tidewater announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 29th that authorizes the company to buyback $48.60 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Tidewater

In related news, COO David E. Darling sold 17,821 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total value of $1,462,747.68. Following the transaction, the chief operating officer now directly owns 85,959 shares of the company’s stock, valued at approximately $7,055,514.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.00, for a total transaction of $656,000.00. Following the sale, the executive vice president now directly owns 104,312 shares of the company’s stock, valued at approximately $8,553,584. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO David E. Darling sold 17,821 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total value of $1,462,747.68. Following the sale, the chief operating officer now directly owns 85,959 shares in the company, valued at $7,055,514.72. The disclosure for this sale can be found here. Insiders have sold a total of 45,462 shares of company stock valued at $3,716,739 in the last ninety days. Company insiders own 9.59% of the company’s stock.

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.