Spire Wealth Management Increases Stake in Tidewater Inc. (NYSE:TDW)

Spire Wealth Management grew its stake in Tidewater Inc. (NYSE:TDW) by 79.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,485 shares of the oil and gas company’s stock after buying an additional 1,546 shares during the quarter. Spire Wealth Management’s holdings in Tidewater were worth $191,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in TDW. Pacer Advisors Inc. boosted its stake in shares of Tidewater by 42,719.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock valued at $76,277,000 after buying an additional 1,390,951 shares during the period. Van ECK Associates Corp purchased a new position in shares of Tidewater in the 3rd quarter valued at about $51,089,000. Cerity Partners LLC boosted its stake in shares of Tidewater by 173.4% in the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after buying an additional 385,779 shares during the period. Villere ST Denis J & Co. LLC purchased a new position in shares of Tidewater in the 3rd quarter valued at about $25,871,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Tidewater by 207.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 124,391 shares of the oil and gas company’s stock valued at $8,930,000 after buying an additional 83,975 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TDW. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, DNB Markets began coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.60.

Tidewater Trading Down 0.2 %

TDW opened at $53.75 on Friday. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 15.81 and a beta of 1.04. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42. The business’s 50 day moving average is $52.85 and its two-hundred day moving average is $65.82. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $340.36 million for the quarter, compared to analyst estimates of $339.65 million. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same quarter in the previous year, the company posted $0.77 earnings per share. On average, research analysts predict that Tidewater Inc. will post 3.25 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Quintin Kneen bought 41,615 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.33% of the stock is currently owned by corporate insiders.

About Tidewater

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.