Tidewater Inc. $TDW Shares Sold by CI Investments Inc.

CI Investments Inc. cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 32.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,146 shares of the oil and gas company’s stock after selling 14,979 shares during the quarter. CI Investments Inc. owned 0.06% of Tidewater worth $1,661,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TDW. Hantz Financial Services Inc. lifted its holdings in shares of Tidewater by 401.0% in the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 413 shares in the last quarter. Blume Capital Management Inc. raised its position in Tidewater by 128.3% during the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares during the period. Parkside Financial Bank & Trust lifted its stake in Tidewater by 4,245.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 849 shares in the last quarter. CWM LLC lifted its stake in Tidewater by 83.6% in the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 422 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Tidewater by 701.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TDW shares. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research note on Tuesday. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Finally, Evercore lowered their target price on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $91.00.

Insider Activity at Tidewater

In related news, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the sale, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. This trade represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.60% of the company’s stock.

Tidewater Stock Performance

NYSE TDW opened at $80.36 on Friday. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $88.99. The company has a quick ratio of 2.79, a current ratio of 2.90 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.98 billion, a P/E ratio of 12.03 and a beta of 0.57. The company’s 50-day simple moving average is $64.50 and its 200 day simple moving average is $58.04.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. The company had revenue of $336.80 million during the quarter, compared to analysts’ expectations of $329.39 million. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. As a group, research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.