Precision Wealth Strategies LLC Purchases 264 Shares of Tidewater Inc. (NYSE:TDW)

Precision Wealth Strategies LLC grew its stake in Tidewater Inc. (NYSE:TDWFree Report) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,376 shares of the oil and gas company’s stock after buying an additional 264 shares during the period. Precision Wealth Strategies LLC’s holdings in Tidewater were worth $243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meixler Investment Management Ltd. boosted its stake in shares of Tidewater by 1.9% in the 4th quarter. Meixler Investment Management Ltd. now owns 15,448 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 284 shares in the last quarter. Parkside Financial Bank & Trust purchased a new stake in shares of Tidewater in the 4th quarter valued at $33,000. Swiss National Bank boosted its stake in shares of Tidewater by 2.7% in the 3rd quarter. Swiss National Bank now owns 26,900 shares of the oil and gas company’s stock valued at $1,912,000 after purchasing an additional 700 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Tidewater by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 82,459 shares of the oil and gas company’s stock valued at $5,860,000 after purchasing an additional 779 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Tidewater by 1.2% in the 3rd quarter. AQR Capital Management LLC now owns 76,168 shares of the oil and gas company’s stock valued at $5,413,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Activity

In other news, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the sale, the executive vice president now owns 104,312 shares of the company’s stock, valued at approximately $8,553,584. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 is accessible through this link. Also, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $82.00, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 567,722 shares of company stock valued at $60,019,454 in the last 90 days. 8.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of research reports. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. BTIG Research upped their price objective on shares of Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Evercore ISI increased their price target on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Johnson Rice started coverage on shares of Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 price target for the company. One 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 MarketBeat.com, Tidewater presently has an average rating of “Buy” and an average target price of $98.00.

Read Our Latest Stock Report on TDW

Tidewater Stock Performance

Shares of NYSE TDW opened at $103.33 on Friday. The firm’s 50-day moving average price is $98.72 and its 200-day moving average price is $79.62. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company has a market cap of $5.45 billion, a PE ratio of 41.17 and a beta of 1.21. Tidewater Inc. has a 52-week low of $42.62 and a 52-week high of $111.42.

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

Tidewater declared that its board has initiated a share repurchase program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

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.

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Institutional Ownership by Quarter for Tidewater (NYSE:TDW)

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