Villere ST Denis J & Co. LLC Sells 134,355 Shares of Tidewater Inc. $TDW

Villere ST Denis J & Co. LLC cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 31.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 292,866 shares of the oil and gas company’s stock after selling 134,355 shares during the quarter. Tidewater accounts for about 2.7% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 12th largest position. Villere ST Denis J & Co. LLC’s holdings in Tidewater were worth $24,469,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in Tidewater in the first quarter valued at approximately $26,000. Clearstead Advisors LLC increased its holdings in shares of Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 870 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the 2nd quarter valued at $47,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Tidewater during the 4th quarter worth $53,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Trading Up 3.9%

Tidewater stock traded up $2.75 during mid-day trading on Friday, hitting $73.41. 585,079 shares of the stock were exchanged, compared to its average volume of 857,266. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 12.30 and a beta of 0.53. Tidewater Inc. has a 12 month low of $45.71 and a 12 month high of $93.13. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The firm’s fifty day simple moving average is $74.52 and its two-hundred day simple moving average is $72.43.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.63). The firm had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.83 earnings per share. Analysts forecast that Tidewater Inc. will post 3.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TDW shares. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Barclays lifted their price target on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Finally, Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.33.

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.