Nisa Investment Advisors LLC Cuts Stake in Tidewater Inc. (NYSE:TDW)

Nisa Investment Advisors LLC lessened its holdings in shares of Tidewater Inc. (NYSE:TDW) by 55.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 524 shares of the oil and gas company’s stock after selling 650 shares during the period. Nisa Investment Advisors LLC’s holdings in Tidewater were worth $38,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 valued at $269,967,000 after purchasing an additional 1,043,804 shares in the last quarter. FMR LLC increased its position in shares of Tidewater by 1,294.4% in the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock valued at $75,682,000 after acquiring an additional 988,528 shares during the period. Victory Capital Management Inc. lifted its position in Tidewater by 1,514.0% during the 3rd quarter. Victory Capital Management Inc. now owns 258,849 shares of the oil and gas company’s stock worth $18,396,000 after acquiring an additional 242,811 shares during the period. Charles Schwab Investment Management Inc. grew its stake in 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 valued at $26,380,000 after purchasing an additional 239,761 shares during the last quarter. Finally, Montag A & Associates Inc. increased its holdings in shares of Tidewater by 223.1% in the third quarter. Montag A & Associates Inc. now owns 215,113 shares of the oil and gas company’s stock valued at $15,288,000 after purchasing an additional 148,533 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analysts Set New Price Targets

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

Tidewater Stock Down 0.3 %

TDW opened at $89.26 on Tuesday. The company has a fifty day moving average of $84.86 and a two-hundred day moving average of $72.59. 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 Inc. has a fifty-two week low of $39.41 and a fifty-two week high of $101.10. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 48.78 and a beta of 1.20.

Tidewater (NYSE:TDW) last announced 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). Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The business had revenue of $302.66 million during the quarter, compared to analysts’ expectations of $309.46 million. During the same quarter in the prior year, the firm earned $0.30 EPS. Tidewater’s revenue for the quarter was up 62.1% on a year-over-year basis. On average, research analysts expect that Tidewater Inc. will post 4.94 earnings per share for the current year.

Tidewater announced that its board has initiated a share buyback program on Thursday, February 29th that allows the company to buyback $48.60 million in shares. This buyback authorization allows the oil and gas company to reacquire up to 1.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total value of $1,597,991.76. Following the completion of the sale, the chief financial officer now owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, 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 value of $1,462,747.68. Following 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 document filed with the SEC, which is accessible through this hyperlink. Also, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the sale, the chief financial officer now owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The disclosure for this sale can be found here. Insiders have sold 45,462 shares of company stock worth $3,716,739 in the last quarter. Corporate insiders own 9.59% of the company’s stock.

About Tidewater

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.