JPMorgan Chase & Co. Buys 138,739 Shares of Tidewater Inc. $TDW

JPMorgan Chase & Co. grew its stake in Tidewater Inc. (NYSE:TDW) by 286.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,250 shares of the oil and gas company’s stock after acquiring an additional 138,739 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tidewater were worth $9,986,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of TDW. Parkside Financial Bank & Trust increased its holdings in shares of Tidewater by 23.5% during the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 204 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Tidewater by 4.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock worth $238,000 after purchasing an additional 224 shares in the last quarter. Altfest L J & Co. Inc. grew its position in Tidewater by 2.0% during the 3rd quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock valued at $724,000 after purchasing an additional 272 shares during the last quarter. Lido Advisors LLC grew its position in Tidewater by 5.6% during the 2nd quarter. Lido Advisors LLC now owns 5,152 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 275 shares during the last quarter. Finally, Financial Enhancement Group LLC increased its stake in Tidewater by 1.4% during the 3rd quarter. Financial Enhancement Group LLC now owns 21,371 shares of the oil and gas company’s stock valued at $1,132,000 after purchasing an additional 288 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TDW has been the topic of several analyst reports. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Evercore decreased their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Dawson James reiterated an “outperform” rating on shares of Tidewater in a research note on Tuesday. Finally, Raymond James Financial set a $117.00 target price on Tidewater in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and an average target price of $91.00.

Insiders Place Their Bets

In other news, EVP Samuel R. Rubio sold 22,461 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the transaction, the executive vice president directly owned 60,066 shares of the company’s stock, valued at $4,808,283.30. This represents a 27.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Hudson sold 5,195 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the completion of the transaction, the executive vice president owned 45,971 shares in the company, valued at approximately $3,703,423.76. This trade represents a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 52,656 shares of company stock valued at $4,079,112. Company insiders own 6.60% of the company’s stock.

Tidewater Stock Performance

Shares of TDW stock opened at $77.78 on Friday. The company has a 50 day moving average price of $65.05 and a 200-day moving average price of $58.18. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $88.99. The firm has a market capitalization of $3.86 billion, a PE ratio of 11.64 and a beta of 0.57. The company has a quick ratio of 2.79, a current ratio of 2.90 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW) last issued 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 company had revenue of $336.80 million for the quarter, compared to the consensus estimate of $329.39 million. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current year.

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.