Vontobel Holding Ltd. Buys New Stake in Tidewater Inc. (NYSE:TDW)

Vontobel Holding Ltd. purchased a new position in shares of Tidewater Inc. (NYSE:TDW) during the 4th quarter, Holdings Channel.com reports. The firm purchased 4,516 shares of the oil and gas company’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDW. IFP Advisors Inc increased its stake in 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 valued at $101,000 after purchasing an additional 1,366 shares during the period. Evergreen Capital Management LLC acquired a new position in Tidewater in the third quarter valued at $219,000. Precision Wealth Strategies LLC acquired a new position in Tidewater in the third quarter valued at $221,000. O Brien Greene & Co. Inc acquired a new position in Tidewater in the third quarter valued at $227,000. Finally, 180 Wealth Advisors LLC acquired a new position in Tidewater in the third quarter valued at $234,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Tidewater news, COO David E. Darling sold 17,821 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were 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 owns 85,959 shares of the company’s stock, valued at $7,055,514.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Samuel R. Rubio sold 19,641 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the completion of the sale, the chief financial officer now directly owns 98,036 shares in the company, valued at approximately $7,976,208.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,462 shares of company stock valued at $3,716,739. Corporate insiders own 9.59% of the company’s stock.

Analyst Ratings Changes

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

Tidewater Trading Up 5.4 %

Shares of Tidewater stock opened at $94.10 on Wednesday. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 51.42 and a beta of 1.20. Tidewater Inc. has a 52-week low of $39.41 and a 52-week high of $101.10. The company’s 50-day simple moving average is $85.39 and its 200-day simple moving average is $72.78. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.61.

Tidewater (NYSE:TDW) last released its quarterly earnings data 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). The company had revenue of $302.66 million for the quarter, compared to analysts’ expectations of $309.46 million. Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The firm’s quarterly revenue was up 62.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 EPS. As a group, equities research analysts anticipate that Tidewater Inc. will post 4.94 earnings per share for the current year.

Tidewater announced that its Board of Directors has initiated a stock repurchase 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 buy up to 1.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are 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.