Parkside Financial Bank & Trust Acquires Shares of 463 Tidewater Inc. (NYSE:TDW)

Parkside Financial Bank & Trust purchased a new stake in Tidewater Inc. (NYSE:TDW) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 463 shares of the oil and gas company’s stock, valued at approximately $33,000.

A number of other large investors also recently made changes to their positions in TDW. Vanguard Group Inc. lifted its stake in shares of Tidewater by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock valued at $269,967,000 after purchasing an additional 1,043,804 shares during the period. FMR LLC raised its stake in Tidewater by 1,294.4% during the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock worth $75,682,000 after buying an additional 988,528 shares during the period. Cerity Partners LLC acquired a new stake in shares of Tidewater in the 4th quarter valued at about $25,322,000. Victory Capital Management Inc. raised its stake in shares of Tidewater by 1,514.0% in the 3rd quarter. Victory Capital Management Inc. now owns 258,849 shares of the oil and gas company’s stock valued at $18,396,000 after purchasing an additional 242,811 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Tidewater by 182.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 371,181 shares of the oil and gas company’s stock valued at $26,380,000 after purchasing an additional 239,761 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Price Performance

Shares of NYSE TDW opened at $95.72 on Friday. Tidewater Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $101.10. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 52.31 and a beta of 1.20. The business has a 50-day moving average of $86.90 and a 200-day moving average of $73.25.

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

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on TDW. Pickering Energy Partners began coverage on Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating on the stock. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Johnson Rice began coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 price target on the stock. BTIG Research lifted their price target on Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Evercore ISI raised their price objective on Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, March 4th. One research 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. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $93.00.

Insider Buying and Selling

In related news, COO David E. Darling sold 17,821 shares of Tidewater stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the completion of the transaction, the chief operating officer now owns 85,959 shares in the company, valued at $7,055,514.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the firm’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 transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David E. Darling sold 17,821 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the sale, the chief operating officer now owns 85,959 shares of the company’s stock, valued at $7,055,514.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,462 shares of company stock worth $3,716,739. 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.