Empire Life Investments Inc. Has $16.05 Million Stock Holdings in Tidewater Inc. (NYSE:TDW)

Empire Life Investments Inc. lessened its holdings in Tidewater Inc. (NYSE:TDW) by 0.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 379,797 shares of the oil and gas company’s stock after selling 1,093 shares during the quarter. Empire Life Investments Inc. owned 0.75% of Tidewater worth $16,054,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TDW. Aegis Financial Corp acquired a new stake in Tidewater in the first quarter valued at $8,527,000. XTX Topco Ltd boosted its position in shares of Tidewater by 223.7% during the 1st quarter. XTX Topco Ltd now owns 16,730 shares of the oil and gas company’s stock worth $707,000 after purchasing an additional 11,562 shares in the last quarter. De Lisle Partners LLP boosted its position in shares of Tidewater by 15.1% during the 1st quarter. De Lisle Partners LLP now owns 123,773 shares of the oil and gas company’s stock worth $5,234,000 after purchasing an additional 16,200 shares in the last quarter. Cetera Investment Advisers bought a new position in shares of Tidewater during the 1st quarter worth about $325,000. Finally, Pinnacle Associates Ltd. lifted its position in Tidewater by 5.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 53,176 shares of the oil and gas company’s stock valued at $2,248,000 after acquiring an additional 2,735 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Down 5.0%

TDW opened at $47.51 on Monday. The company has a fifty day moving average price of $47.18 and a 200-day moving average price of $45.00. The firm has a market capitalization of $2.35 billion, a P/E ratio of 14.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 2.00. Tidewater Inc. has a one year low of $31.17 and a one year high of $91.76.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. During the same quarter last year, the company posted $0.89 earnings per share. Tidewater’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TDW shares. Raymond James Financial dropped their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. BTIG Research lowered shares of Tidewater from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $69.33.

Insiders Place Their Bets

In other news, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total transaction of $250,100.00. Following the completion of the sale, the executive vice president directly owned 85,986 shares of the company’s stock, valued at approximately $4,301,019.72. The trade was a 5.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Robotti acquired 15,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were bought at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the acquisition, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. The trade was a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 25,560 shares of company stock valued at $1,074,858 over the last ninety days. 8.33% of the stock is currently owned by insiders.

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.