Zurcher Kantonalbank Zurich Cantonalbank Has $194,000 Stock Position in Tidewater Inc. (NYSE:TDW)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Tidewater Inc. (NYSE:TDW) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,696 shares of the oil and gas company’s stock after selling 426 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tidewater were worth $194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TDW. Vanguard Group Inc. lifted its stake in shares of Tidewater by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock valued at $269,967,000 after acquiring an additional 1,043,804 shares during the last quarter. FMR LLC boosted its stake in shares of Tidewater by 1,294.4% during the third quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock valued at $75,682,000 after purchasing an additional 988,528 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Tidewater by 2.6% during the third quarter. Loomis Sayles & Co. L P now owns 635,763 shares of the oil and gas company’s stock worth $45,183,000 after purchasing an additional 16,102 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tidewater by 182.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 371,181 shares of the oil and gas company’s stock valued at $26,380,000 after purchasing an additional 239,761 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Tidewater during the fourth quarter worth $25,322,000. Institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling at Tidewater

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

Tidewater Stock Up 1.4 %

Shares of NYSE:TDW opened at $108.81 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81. Tidewater Inc. has a 52-week low of $40.65 and a 52-week high of $111.42. The business’s 50 day simple moving average is $90.85 and its two-hundred day simple moving average is $74.78. The firm has a market cap of $5.74 billion, a P/E ratio of 43.35 and a beta of 1.21.

Tidewater (NYSE:TDW) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The company had revenue of $321.20 million for the quarter, compared to analysts’ expectations of $312.05 million. Tidewater’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. As a group, research analysts forecast that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of analysts have commented on TDW shares. Pickering Energy Partners began coverage on shares of Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating on the stock. Johnson Rice began coverage on Tidewater in a research note on Friday, February 9th. They set a “buy” rating and a $88.00 target price for the company. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Evercore ISI raised their price objective on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, BTIG Research boosted their target price on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $93.00.

Tidewater Company Profile

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.