360,367 Shares in Tidewater Inc. (NYSE:TDW) Acquired by Villere ST Denis J & Co. LLC

Villere ST Denis J & Co. LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 360,367 shares of the oil and gas company's stock, valued at approximately $25,871,000. Tidewater accounts for approximately 2.1% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 29th biggest holding. Villere ST Denis J & Co. LLC owned about 0.69% of Tidewater at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Tidewater by 25.7% during the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company's stock worth $442,956,000 after acquiring an additional 985,398 shares during the period. Boston Partners increased its holdings in shares of Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company's stock worth $214,055,000 after purchasing an additional 243,489 shares during the period. Van ECK Associates Corp bought a new position in shares of Tidewater during the 3rd quarter worth about $51,089,000. Hsbc Holdings PLC raised its position in shares of Tidewater by 11,317.3% during the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company's stock valued at $60,992,000 after buying an additional 639,765 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Tidewater by 72.1% in the second quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company's stock valued at $42,257,000 after buying an additional 185,972 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TDW. Raymond James boosted their price target on Tidewater from $133.00 to $138.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 8th. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Tidewater has a consensus rating of "Buy" and an average target price of $111.25.

Tidewater Price Performance

TDW traded down $8.08 during midday trading on Friday, reaching $56.07. 3,397,132 shares of the company's stock were exchanged, compared to its average volume of 901,479. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $68.76 and a two-hundred day simple moving average of $86.91. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 16.49 and a beta of 1.14. Tidewater Inc. has a one year low of $54.53 and a one year high of $111.42.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.72 by $0.22. The business had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. Tidewater's quarterly revenue was up 57.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 EPS. As a group, research analysts predict that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Tidewater Company 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.