Parkside Financial Bank & Trust Purchases New Holdings in Tidewater Inc. (NYSE:TDW)

Parkside Financial Bank & Trust purchased a new stake in Tidewater Inc. (NYSE:TDW) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 463 shares of the oil and gas company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TDW. IFP Advisors Inc boosted its holdings in Tidewater by 2,732.0% in the third quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,366 shares during the last quarter. Xponance Inc. bought a new position in Tidewater during the 4th quarter worth approximately $204,000. Evergreen Capital Management LLC bought a new position in Tidewater during the 3rd quarter worth approximately $219,000. Precision Wealth Strategies LLC bought a new position in Tidewater during the 3rd quarter worth approximately $221,000. Finally, O Brien Greene & Co. Inc bought a new position in Tidewater during the 3rd quarter worth approximately $227,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 2.7 %

Shares of Tidewater stock opened at $95.72 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $86.90 and its 200-day simple moving average is $73.25. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 52.31 and a beta of 1.20. Tidewater Inc. has a twelve month low of $39.41 and a twelve month high of $101.10.

Tidewater (NYSE:TDW) last posted its earnings results on Friday, March 1st. The oil and gas company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.03). Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The business had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue was up 62.1% compared to the same quarter last year. Equities research analysts forecast that Tidewater Inc. will post 4.94 earnings per share for the current year.

Tidewater declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 29th that permits the company to buyback $48.60 million in shares. This buyback authorization permits the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

TDW has been the topic of a number of research analyst reports. BTIG Research increased their target price on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Johnson Rice initiated coverage on Tidewater in a report on Friday, February 9th. They set a “buy” rating and a $88.00 target price on the stock. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Evercore ISI increased their price target on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, Pickering Energy Partners initiated coverage on Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $93.00.

Insider Activity at Tidewater

In related news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the sale, the chief financial officer now directly owns 98,036 shares in the company, valued at approximately $7,976,208.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Samuel R. Rubio sold 19,641 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the sale, the chief financial officer now directly owns 98,036 shares in the company, valued at approximately $7,976,208.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the transaction, the executive vice president now directly owns 104,312 shares of the company’s stock, valued at $8,553,584. The disclosure for this sale can be found here. Insiders have sold a total of 45,462 shares of company stock worth $3,716,739 in the last three months. 9.59% of the stock is owned by company insiders.

About Tidewater

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.