Goldman Sachs Group Inc. Buys 50,301 Shares of Tidewater Inc. (NYSE:TDW)

Goldman Sachs Group Inc. increased its position in Tidewater Inc. (NYSE:TDW) by 17.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 341,935 shares of the oil and gas company’s stock after acquiring an additional 50,301 shares during the quarter. Goldman Sachs Group Inc. owned about 0.65% of Tidewater worth $24,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. Parkside Financial Bank & Trust purchased a new stake in shares of Tidewater in the fourth quarter worth $33,000. Spire Wealth Management raised its holdings in Tidewater by 608.4% during the fourth quarter. Spire Wealth Management now owns 1,771 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 1,521 shares during the period. Xponance Inc. purchased a new position in shares of Tidewater in the fourth quarter valued at about $204,000. Private Advisor Group LLC bought a new position in shares of Tidewater in the fourth quarter worth about $210,000. Finally, Versor Investments LP purchased a new stake in shares of Tidewater during the fourth quarter worth about $220,000. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TDW shares. BTIG Research boosted their price target on Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Evercore ISI raised their target price on shares of Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. One equities research 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, the company presently has an average rating of “Buy” and a consensus price target of $98.00.

Tidewater Trading Up 1.0 %

TDW stock opened at $95.26 on Tuesday. The firm has a fifty day moving average price of $99.39 and a 200 day moving average price of $84.20. Tidewater Inc. has a fifty-two week low of $46.25 and a fifty-two week high of $111.42. The firm has a market cap of $5.03 billion, a PE ratio of 37.95 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The business had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. During the same period last year, the company posted $0.23 EPS. The business’s revenue was up 66.3% on a year-over-year basis. Sell-side analysts anticipate that Tidewater Inc. will post 4.68 earnings per share for the current fiscal year.

Tidewater declared that its board has initiated a share buyback plan 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 buy up to 1.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Darron M. Anderson sold 1,000 shares of Tidewater stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $103.89, for a total value of $103,890.00. Following the completion of the transaction, the director now owns 40,447 shares in the company, valued at approximately $4,202,038.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Quintin Kneen sold 150,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $109.01, for a total value of $16,351,500.00. Following the sale, the chief executive officer now owns 501,718 shares of the company’s stock, valued at $54,692,279.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Darron M. Anderson sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $103.89, for a total transaction of $103,890.00. Following the completion of the sale, the director now owns 40,447 shares of the company’s stock, valued at approximately $4,202,038.83. The disclosure for this sale can be found here. Insiders have sold 733,926 shares of company stock valued at $78,328,615 over the last ninety days. 8.33% of the stock is owned by insiders.

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.