Villere ST Denis J & Co. LLC Sells 18,955 Shares of Tidewater Inc. $TDW

Villere ST Denis J & Co. LLC reduced its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 427,221 shares of the oil and gas company’s stock after selling 18,955 shares during the period. Tidewater comprises about 2.2% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 25th biggest position. Villere ST Denis J & Co. LLC’s holdings in Tidewater were worth $21,579,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Parkside Financial Bank & Trust grew its position in 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 valued at $57,000 after acquiring an additional 204 shares during the last quarter. Lido Advisors LLC grew its position in Tidewater by 4.0% during the third 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. Altfest L J & Co. Inc. grew its position in Tidewater by 2.0% during 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 acquiring an additional 272 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Tidewater by 6.7% during 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 acquiring an additional 292 shares during the last quarter. Finally, Blume Capital Management Inc. grew 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 acquiring an additional 295 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the sale, the executive vice president owned 45,971 shares of the company’s stock, valued at $3,703,423.76. This trade represents a 10.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction on 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,656 shares of company stock valued at $4,079,112 in the last ninety days. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TDW has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Zacks Research raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Monday. Barclays initiated coverage on Tidewater in a research note on Wednesday, April 1st. They set an “equal weight” rating and a $80.00 price objective for the company. Finally, Raymond James Financial set a $117.00 price objective on Tidewater in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $87.33.

Tidewater Stock Performance

Shares of TDW stock opened at $85.63 on Thursday. The stock has a fifty day moving average of $79.67 and a 200 day moving average of $63.69. Tidewater Inc. has a 52 week low of $33.38 and a 52 week high of $89.00. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 12.82 and a beta of 0.56. The company has a quick ratio of 2.78, a current ratio of 2.90 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, topping 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 company had revenue of $336.80 million during the quarter, compared to analyst estimates of $329.39 million. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts expect that Tidewater Inc. will post 4.04 earnings per share for the current year.

About Tidewater

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.