SG Americas Securities LLC Acquires 114,980 Shares of Tidewater Inc. $TDW

SG Americas Securities LLC grew its holdings in shares of Tidewater Inc. (NYSE:TDW) by 581.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,738 shares of the oil and gas company’s stock after buying an additional 114,980 shares during the period. SG Americas Securities LLC owned approximately 0.27% of Tidewater worth $6,806,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Assenagon Asset Management S.A. grew its position in shares of Tidewater by 6.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,979 shares of the oil and gas company’s stock worth $1,009,000 after buying an additional 1,217 shares during the period. 180 Wealth Advisors LLC boosted its stake in Tidewater by 4.8% during the fourth quarter. 180 Wealth Advisors LLC now owns 9,382 shares of the oil and gas company’s stock worth $474,000 after acquiring an additional 427 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in Tidewater during the fourth quarter worth $153,000. JPMorgan Chase & Co. grew its holdings 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 worth $9,986,000 after purchasing an additional 138,739 shares during the period. Finally, FNY Investment Advisers LLC increased its stake in Tidewater by 326.3% in the third quarter. FNY Investment Advisers LLC now owns 4,080 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 3,123 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of TDW stock opened at $83.69 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $72.86 and a two-hundred day simple moving average of $60.41. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $88.99. The firm has a market capitalization of $4.15 billion, a PE ratio of 12.53 and a beta of 0.57.

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. The firm had revenue of $336.80 million for the quarter, compared to analyst estimates of $329.39 million. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share. Analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity

In other news, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the sale, the executive vice president directly owned 50,986 shares of the company’s stock, valued at $3,951,415. This represents a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were 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 owned 60,066 shares in the company, valued at $4,808,283.30. This represents a 27.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 52,656 shares of company stock worth $4,079,112. 6.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Tidewater 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.