State of Alaska Department of Revenue Increases Stock Holdings in Tidewater Inc. $TDW

State of Alaska Department of Revenue increased its holdings in Tidewater Inc. (NYSE:TDW) by 50.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,785 shares of the oil and gas company’s stock after purchasing an additional 11,625 shares during the period. State of Alaska Department of Revenue owned 0.07% of Tidewater worth $1,756,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Parkside Financial Bank & Trust grew its position in shares of Tidewater by 23.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 204 shares during the period. Lido Advisors LLC grew its position in shares of Tidewater by 4.0% in the third quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 208 shares during the period. Altfest L J & Co. Inc. grew its position in shares of Tidewater by 2.0% in the third quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock valued at $724,000 after purchasing an additional 272 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of Tidewater by 6.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 4,633 shares of the oil and gas company’s stock valued at $247,000 after purchasing an additional 292 shares during the period. Finally, Blume Capital Management Inc. grew its position in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samuel R. Rubio sold 22,461 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president directly owned 60,066 shares of the company’s stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 52,656 shares of company stock worth $4,079,112 in the last quarter. 6.60% of the stock is owned by insiders.

Tidewater Price Performance

Shares of Tidewater stock opened at $85.17 on Monday. Tidewater Inc. has a twelve month low of $32.21 and a twelve month high of $89.00. The stock has a market capitalization of $4.22 billion, a P/E ratio of 12.75 and a beta of 0.56. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The business’s fifty day moving average price is $78.73 and its 200 day moving average price is $63.09.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $329.39 million. During the same quarter last year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Raymond James Financial set a $117.00 price objective on Tidewater in a research report on Tuesday, March 3rd. Barclays started coverage on Tidewater in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $80.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $87.33.

Tidewater 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.