Tidewater Inc. (NYSE:TDW) Shares Acquired by Meixler Investment Management Ltd.

Meixler Investment Management Ltd. boosted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,448 shares of the oil and gas company’s stock after purchasing an additional 284 shares during the period. Tidewater makes up approximately 0.9% of Meixler Investment Management Ltd.’s holdings, making the stock its 27th biggest position. Meixler Investment Management Ltd.’s holdings in Tidewater were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new stake in Tidewater during the fourth quarter valued at approximately $33,000. IFP Advisors Inc lifted its stake in Tidewater by 2,732.0% during the third quarter. IFP Advisors Inc now owns 1,416 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,366 shares during the last quarter. Xponance Inc. acquired a new stake in Tidewater during the fourth quarter valued at approximately $204,000. Evergreen Capital Management LLC acquired a new stake in Tidewater during the third quarter valued at approximately $219,000. Finally, Precision Wealth Strategies LLC acquired a new stake in Tidewater during the third quarter valued at approximately $221,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Johnson Rice assumed coverage on shares of Tidewater in a research report on Friday, February 9th. They issued a “buy” rating and a $88.00 price target for the company. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. BTIG Research upped their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Pickering Energy Partners assumed coverage on shares of Tidewater in a research report on Tuesday, January 30th. They issued an “outperform” rating for the company. Finally, Evercore ISI upped their price target on shares of Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tidewater has an average rating of “Buy” and a consensus target price of $93.00.

Insider Transactions at Tidewater

In other news, COO David E. Darling sold 17,821 shares of the stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the transaction, the chief operating officer now owns 85,959 shares in the company, valued at approximately $7,055,514.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the completion of the transaction, the executive vice president now directly owns 104,312 shares of the company’s stock, valued at approximately $8,553,584. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David E. Darling sold 17,821 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the transaction, the chief operating officer now directly owns 85,959 shares of the company’s stock, valued at $7,055,514.72. The disclosure for this sale can be found here. Insiders have sold a total of 45,462 shares of company stock worth $3,716,739 in the last 90 days. 9.59% of the stock is owned by insiders.

Tidewater Stock Up 2.7 %

TDW stock traded up $2.50 during midday trading on Friday, reaching $95.72. The company had a trading volume of 453,472 shares, compared to its average volume of 666,168. Tidewater Inc. has a 1 year low of $39.41 and a 1 year high of $101.10. The company has a current ratio of 1.80, a quick ratio of 1.70 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5.00 billion, a P/E ratio of 52.31 and a beta of 1.20. The company has a 50 day moving average of $86.90 and a two-hundred day moving average of $73.25.

Tidewater (NYSE:TDW) last released its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The company had revenue of $302.66 million during the quarter, compared to analysts’ expectations of $309.46 million. During the same quarter in the previous year, the company earned $0.30 EPS. The firm’s quarterly revenue was up 62.1% compared to the same quarter last year. On average, equities research analysts expect that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

Tidewater declared that its board has approved a share repurchase program on Thursday, February 29th that allows the company to buyback $48.60 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board 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.