Meixler Investment Management Ltd. Increases Position in Tidewater Inc. (NYSE:TDW)

Meixler Investment Management Ltd. lifted its holdings in Tidewater Inc. (NYSE:TDW) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,448 shares of the oil and gas company’s stock after purchasing an additional 284 shares during the period. Tidewater comprises about 0.9% of Meixler Investment Management Ltd.’s portfolio, making the stock its 27th largest holding. Meixler Investment Management Ltd.’s holdings in Tidewater were worth $1,114,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in shares of Tidewater in the 4th quarter valued at about $33,000. IFP Advisors Inc boosted its holdings in Tidewater by 2,732.0% in the 3rd quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company’s stock worth $101,000 after buying an additional 1,366 shares during the last quarter. Xponance Inc. acquired a new stake in Tidewater in the 4th quarter worth about $204,000. Evergreen Capital Management LLC acquired a new stake in Tidewater in the 3rd quarter worth about $219,000. Finally, Precision Wealth Strategies LLC acquired a new stake in Tidewater in the 3rd quarter worth about $221,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Activity

In other news, CFO Samuel R. Rubio sold 19,641 shares of Tidewater stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the sale, the chief financial officer now owns 98,036 shares of the company’s stock, valued at approximately $7,976,208.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the business’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 owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 104,312 shares in the company, valued at approximately $8,553,584. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,462 shares of company stock valued at $3,716,739. 9.59% of the stock is currently owned by company insiders.

Tidewater Price Performance

Shares of Tidewater stock traded up $2.50 on Friday, hitting $95.72. 453,472 shares of the company were exchanged, compared to its average volume of 666,168. The stock has a market capitalization of $5.00 billion, a price-to-earnings ratio of 52.31 and a beta of 1.20. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $86.90 and a 200 day moving average price of $73.25. Tidewater Inc. has a 1-year low of $39.41 and a 1-year high of $101.10.

Tidewater (NYSE:TDW) last released its quarterly 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). The firm had revenue of $302.66 million for the quarter, compared to analysts’ expectations of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The firm’s quarterly revenue was up 62.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts predict that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TDW shares. Evercore ISI lifted their price objective on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Johnson Rice assumed coverage on Tidewater in a report on Friday, February 9th. They set a “buy” rating and a $88.00 target price on the stock. Pickering Energy Partners assumed coverage on Tidewater in a report on Tuesday, January 30th. They set an “outperform” rating on the stock. Finally, BTIG Research boosted 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average 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.