Balyasny Asset Management L.P. Cuts Holdings in Tidewater Inc. (NYSE:TDW)

Balyasny Asset Management L.P. decreased its stake in shares of Tidewater Inc. (NYSE:TDWFree Report) by 23.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 884,524 shares of the oil and gas company’s stock after selling 270,424 shares during the quarter. Balyasny Asset Management L.P. owned approximately 1.67% of Tidewater worth $63,783,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TDW. Boston Partners increased its holdings in Tidewater by 32,536.3% during the 4th quarter. Boston Partners now owns 2,080,236 shares of the oil and gas company’s stock worth $149,928,000 after purchasing an additional 2,073,862 shares during the period. Vanguard Group Inc. raised its position in shares of Tidewater by 37.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock worth $269,967,000 after acquiring an additional 1,043,804 shares in the last quarter. FMR LLC raised its position in shares of 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 acquiring an additional 988,528 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Tidewater during the 4th quarter worth about $25,322,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tidewater by 182.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 371,181 shares of the oil and gas company’s stock worth $26,380,000 after acquiring an additional 239,761 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Up 13.2 %

Shares of TDW stock opened at $105.86 on Tuesday. The business’s 50 day moving average is $98.97 and its two-hundred day moving average is $81.10. Tidewater Inc. has a twelve month low of $42.62 and a twelve month high of $111.42. The company has a market capitalization of $5.59 billion, a P/E ratio of 42.18 and a beta of 1.22. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59.

Tidewater (NYSE:TDWGet Free Report) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.40. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The company had revenue of $321.20 million for the quarter, compared to the consensus estimate of $312.05 million. During the same period last year, the business posted $0.23 EPS. The company’s revenue was up 66.3% on a year-over-year basis. Equities analysts forecast that Tidewater Inc. will post 4.68 EPS for the current year.

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

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Darron M. Anderson sold 1,750 shares of Tidewater stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $102.11, for a total value of $178,692.50. Following the transaction, the director now directly owns 41,447 shares in the company, valued at approximately $4,232,153.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Darron M. Anderson sold 1,750 shares of Tidewater stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $102.11, for a total value of $178,692.50. Following the sale, the director now directly owns 41,447 shares in the company, valued at $4,232,153.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Darron M. Anderson sold 1,000 shares of Tidewater stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $103.89, for a total value of $103,890.00. Following the completion of the sale, the director now owns 40,447 shares in the company, valued at $4,202,038.83. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 547,926 shares of company stock worth $58,976,855. 8.33% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TDW. Evercore ISI raised their target price on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Finally, BTIG Research raised 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. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $98.00.

Get Our Latest Research Report on TDW

Tidewater Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Tidewater (NYSE:TDW)

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