Tidewater Inc. (NYSE:TDW) Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its holdings in Tidewater Inc. (NYSE:TDW) by 37.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,455 shares of the oil and gas company’s stock after selling 4,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Tidewater were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TDW. PNC Financial Services Group Inc. boosted its holdings in Tidewater by 71.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after buying an additional 156 shares in the last quarter. Precision Wealth Strategies LLC increased its position in shares of Tidewater by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after acquiring an additional 264 shares in the last quarter. Meixler Investment Management Ltd. raised its holdings in shares of Tidewater by 1.9% during the fourth quarter. Meixler Investment Management Ltd. now owns 15,448 shares of the oil and gas company’s stock valued at $1,114,000 after acquiring an additional 284 shares during the period. Parkside Financial Bank & Trust acquired a new position in Tidewater in the 4th quarter worth approximately $33,000. Finally, ProShare Advisors LLC grew its position in Tidewater by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,349 shares of the oil and gas company’s stock worth $768,000 after purchasing an additional 656 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Down 1.7 %

NYSE TDW traded down $1.75 during trading on Friday, reaching $98.31. The company’s stock had a trading volume of 632,698 shares, compared to its average volume of 703,084. The business has a 50-day moving average price of $98.94 and a 200-day moving average price of $89.15. Tidewater Inc. has a 1-year low of $54.53 and a 1-year high of $111.42. The stock has a market capitalization of $5.19 billion, a PE ratio of 39.17 and a beta of 1.20. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59.

Tidewater (NYSE:TDW) last issued its quarterly earnings data 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 net margin of 11.73% and a return on equity of 16.24%. The firm had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. During the same period in the prior year, the company posted $0.23 earnings per share. Tidewater’s revenue for the quarter was up 66.3% on a year-over-year basis. On average, research analysts forecast that Tidewater Inc. will post 4.68 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 2nd that authorizes the company to repurchase $18.10 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 0.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Separately, BTIG Research upped their price target on shares of Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.33.

Insider Activity at Tidewater

In other Tidewater news, CEO Quintin Kneen sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $109.01, for a total transaction of $16,351,500.00. Following the completion of the sale, the chief executive officer now owns 501,718 shares of the company’s stock, valued at $54,692,279.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tidewater news, CEO Quintin Kneen sold 150,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $109.01, for a total transaction of $16,351,500.00. Following the completion of the transaction, the chief executive officer now owns 501,718 shares of the company’s stock, valued at approximately $54,692,279.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Robotti sold 170,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $107.62, for a total value of $18,295,400.00. Following the completion of the sale, the director now directly owns 2,533,037 shares in the company, valued at $272,605,441.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 733,926 shares of company stock valued at $78,328,615. Corporate insiders own 8.33% of the company’s stock.

Tidewater 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.