Fiera Capital Corp Lowers Stock Holdings in Tidewater Inc. (NYSE:TDW)

Fiera Capital Corp reduced its position in Tidewater Inc. (NYSE:TDW) by 4.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 194,034 shares of the oil and gas company’s stock after selling 9,057 shares during the quarter. Fiera Capital Corp owned 0.37% of Tidewater worth $18,474,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of TDW. GAMMA Investing LLC grew its position in Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 156 shares during the period. Transcendent Capital Group LLC bought a new stake in Tidewater in the first quarter worth $28,000. Spire Wealth Management boosted its position in Tidewater by 608.4% during the fourth quarter. Spire Wealth Management now owns 1,771 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,521 shares during the period. Finally, Private Advisor Group LLC bought a new position in shares of Tidewater during the fourth quarter valued at about $210,000. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TDW. BTIG Research increased their target price on Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 10th. Raymond James boosted their price objective on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. 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 company. According to data from MarketBeat, Tidewater presently has a consensus rating of “Buy” and a consensus target price of $111.25.

Insider Activity at Tidewater

In other Tidewater news, Director Louis Raspino sold 25,666 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $104.19, for a total value of $2,674,140.54. Following the completion of the sale, the director now directly owns 43,832 shares in the company, valued at $4,566,856.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tidewater news, Director Louis Raspino sold 25,666 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $104.19, for a total transaction of $2,674,140.54. Following the completion of the transaction, the director now owns 43,832 shares of the company’s stock, valued at $4,566,856.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Traub sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the sale, the director now directly owns 68,802 shares in the company, valued at $7,319,156.76. The disclosure for this sale can be found here. Insiders have sold 211,666 shares of company stock worth $22,025,901 over the last 90 days. 8.33% of the stock is owned by company insiders.

Tidewater Stock Down 9.1 %

NYSE TDW opened at $80.64 on Wednesday. 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 $4.23 billion, a PE ratio of 32.13 and a beta of 1.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The business’s 50-day moving average is $92.83 and its 200 day moving average is $93.12.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.22. The firm had revenue of $339.20 million for the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The business’s revenue was up 57.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 earnings per share. Sell-side analysts forecast that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater declared that its board has authorized a share buyback plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.