SG Americas Securities LLC Sells 2,914 Shares of Tidewater Inc. (NYSE:TDW)

SG Americas Securities LLC cut its holdings in Tidewater Inc. (NYSE:TDW) by 40.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,300 shares of the oil and gas company’s stock after selling 2,914 shares during the period. SG Americas Securities LLC’s holdings in Tidewater were worth $310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TDW. FNY Investment Advisers LLC purchased a new stake in Tidewater during the 3rd quarter valued at about $71,000. Tower Research Capital LLC TRC boosted its stake in shares of Tidewater by 36.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 270 shares during the period. IFP Advisors Inc grew its holdings in shares of Tidewater by 2,732.0% in the third quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,366 shares during the last quarter. Comerica Bank purchased a new position in shares of Tidewater in the third quarter worth $146,000. Finally, Ensign Peak Advisors Inc bought a new stake in Tidewater during the 3rd quarter valued at $51,000. 95.13% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $8,553,584. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of Tidewater 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 completion of the transaction, the chief financial officer now owns 98,036 shares in the company, valued at $7,976,208.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 104,312 shares in the company, valued at $8,553,584. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,462 shares of company stock worth $3,716,739. Corporate insiders own 9.59% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tidewater Stock Performance

Tidewater stock opened at $98.66 on Tuesday. Tidewater Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $101.10. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 53.91 and a beta of 1.20. The stock’s 50 day simple moving average is $79.59 and its two-hundred day simple moving average is $70.80. 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 (NYSE:TDW) last released its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.03). The firm had revenue of $302.66 million for the quarter, compared to the consensus estimate of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The company’s revenue for the quarter was up 62.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. As a group, analysts expect that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a share buyback program on Thursday, February 29th that permits the company to repurchase $48.60 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 1.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Tidewater 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.