BNP Paribas Financial Markets Sells 18,776 Shares of Tidewater Inc. (NYSE:TDW)

BNP Paribas Financial Markets decreased its stake in Tidewater Inc. (NYSE:TDW) by 72.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,963 shares of the oil and gas company’s stock after selling 18,776 shares during the quarter. BNP Paribas Financial Markets’ holdings in Tidewater were worth $381,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its holdings in Tidewater by 45.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 333 shares in the last quarter. Tectonic Advisors LLC increased its stake in shares of Tidewater by 2.3% in the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock worth $961,000 after purchasing an additional 402 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Tidewater by 9.5% in the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 463 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Tidewater by 13.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company’s stock valued at $227,000 after purchasing an additional 479 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Tidewater by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company’s stock valued at $3,020,000 after buying an additional 496 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James decreased their price target on Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Tidewater currently has an average rating of “Hold” and an average price target of $69.33.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the acquisition, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This represents a 0.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.33% of the company’s stock.

Tidewater Stock Performance

Shares of NYSE TDW opened at $39.44 on Monday. The company has a market cap of $1.95 billion, a P/E ratio of 11.60 and a beta of 1.00. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $108.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The firm’s fifty day moving average is $38.60 and its two-hundred day moving average is $46.70.

Tidewater (NYSE:TDW) last issued its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

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.