JPMorgan Chase & Co. Raises Stake in Tidewater Inc. $TDW

JPMorgan Chase & Co. boosted its stake in shares of Tidewater Inc. (NYSE:TDW) by 286.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 187,250 shares of the oil and gas company’s stock after purchasing an additional 138,739 shares during the period. JPMorgan Chase & Co.’s holdings in Tidewater were worth $9,986,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Tidewater by 22.6% during the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after acquiring an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Tidewater by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after purchasing an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Tidewater by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after purchasing an additional 1,931 shares during the period. PNC Financial Services Group Inc. lifted its stake in Tidewater by 141.4% in the second quarter. PNC Financial Services Group Inc. now owns 2,187 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,281 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Tidewater by 124.9% in the second quarter. SG Americas Securities LLC now owns 5,419 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 3,010 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 2.1%

TDW opened at $82.53 on Friday. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $88.99. The company has a market cap of $4.09 billion, a PE ratio of 12.35 and a beta of 0.57. 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 company has a 50 day moving average of $71.83 and a 200 day moving average of $60.08.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. The business had revenue of $336.80 million for the quarter, compared to analysts’ expectations of $329.39 million. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS. On average, sell-side analysts expect that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Buying and Selling at Tidewater

In related news, EVP Samuel R. Rubio sold 22,461 shares of the business’s 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 sale, the executive vice president directly owned 60,066 shares in the company, valued at approximately $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel A. Hudson sold 15,000 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 50,986 shares in the company, valued at $3,951,415. This trade represents a 22.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 52,656 shares of company stock valued at $4,079,112. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

TDW has been the subject of a number of recent research reports. Dawson James reissued an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Raymond James Financial set a $117.00 price target on Tidewater in a research note on Tuesday, March 3rd. Finally, Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and an average price target 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.