SG Americas Securities LLC Boosts Stock Holdings in Tidewater Inc. $TDW

SG Americas Securities LLC grew its position in Tidewater Inc. (NYSE:TDW) by 581.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 134,738 shares of the oil and gas company’s stock after purchasing an additional 114,980 shares during the period. SG Americas Securities LLC’s holdings in Tidewater were worth $6,806,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in Tidewater in the second quarter valued at about $28,199,000. American Century Companies Inc. increased its stake in shares of Tidewater by 74.2% during the 3rd quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after purchasing an additional 412,911 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Tidewater by 319.1% in the 3rd quarter. Victory Capital Management Inc. now owns 303,015 shares of the oil and gas company’s stock worth $16,160,000 after purchasing an additional 230,706 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Tidewater by 159.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 358,563 shares of the oil and gas company’s stock worth $16,541,000 after purchasing an additional 220,473 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Tidewater by 286.0% in the third quarter. JPMorgan Chase & Co. now owns 187,250 shares of the oil and gas company’s stock valued at $9,986,000 after purchasing an additional 138,739 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Performance

Shares of TDW stock opened at $83.69 on Wednesday. The firm’s 50 day moving average is $72.86 and its 200 day moving average is $60.41. The stock has a market capitalization of $4.15 billion, a P/E ratio of 12.53 and a beta of 0.57. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $88.99. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business had revenue of $336.80 million during the quarter, compared to analyst estimates of $329.39 million. During the same period in the previous year, the business earned $0.70 EPS. Tidewater’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Samuel R. Rubio sold 22,461 shares of Tidewater 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 transaction, the executive vice president directly owned 60,066 shares in the company, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 15,000 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $77.50, for a total value of $1,162,500.00. Following the sale, the executive vice president owned 50,986 shares in the company, valued at approximately $3,951,415. The trade was a 22.73% decrease in their ownership of the stock. 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 over the last ninety days. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $91.00.

Tidewater Company Profile

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.