Bank of America Corp DE Lowers Holdings in Tidewater Inc. (NYSE:TDW)

Bank of America Corp DE trimmed its position in Tidewater Inc. (NYSE:TDW) by 67.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,877 shares of the oil and gas company’s stock after selling 64,896 shares during the period. Bank of America Corp DE owned approximately 0.06% of Tidewater worth $1,744,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Tidewater by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock valued at $300,155,000 after buying an additional 56,919 shares during the last quarter. Robotti Robert grew its stake in shares of Tidewater by 1.1% during the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock worth $144,050,000 after purchasing an additional 28,083 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Tidewater by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after purchasing an additional 390,814 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Tidewater by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after purchasing an additional 286,097 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Tidewater by 13.2% during the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company’s stock worth $47,473,000 after purchasing an additional 101,159 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the transaction, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. This represents a 1.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.33% of the company’s stock.

Tidewater Stock Performance

NYSE:TDW opened at $42.74 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $108.44. The stock has a market cap of $2.11 billion, a PE ratio of 12.57 and a beta of 1.00. The firm’s fifty day simple moving average is $38.24 and its 200-day simple moving average is $46.12.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same period last year, the firm posted $0.89 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.