Fort Washington Investment Advisors Inc. OH Acquires Shares of 434,020 Tidewater Inc. $TDW

Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 434,020 shares of the oil and gas company’s stock, valued at approximately $21,922,000. Fort Washington Investment Advisors Inc. OH owned about 0.88% of Tidewater at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TDW. Parkside Financial Bank & Trust boosted its position in shares of Tidewater by 23.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 204 shares during the last quarter. Lido Advisors LLC increased its holdings in Tidewater by 4.0% in the 3rd quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 208 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Tidewater by 4.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock valued at $238,000 after acquiring an additional 224 shares during the last quarter. Altfest L J & Co. Inc. lifted its stake in Tidewater by 2.0% in the 3rd quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock worth $724,000 after purchasing an additional 272 shares in the last quarter. Finally, Financial Enhancement Group LLC boosted its holdings in shares of Tidewater by 1.4% during the 3rd quarter. Financial Enhancement Group LLC now owns 21,371 shares of the oil and gas company’s stock valued at $1,132,000 after purchasing an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

NYSE:TDW opened at $82.53 on Friday. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 12.35 and a beta of 0.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.78. The business has a 50 day simple moving average of $71.83 and a 200-day simple moving average of $60.07. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $88.99.

Tidewater (NYSE:TDW) last released its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, beating the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm had revenue of $336.80 million for the quarter, compared to the consensus estimate of $329.39 million. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the transaction, the executive vice president owned 50,986 shares in the company, valued at $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the sale, the executive vice president directly owned 60,066 shares in the company, valued at approximately $4,808,283.30. This represents a 27.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 52,656 shares of company stock worth $4,079,112 in the last quarter. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TDW. Zacks Research upgraded 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 Tidewater in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Dawson James restated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $91.00.

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.