Deutsche Bank AG Has $12.09 Million Stake in Tidewater Inc. (NYSE:TDW)

Deutsche Bank AG decreased its position in shares of Tidewater Inc. (NYSE:TDW) by 41.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 286,087 shares of the oil and gas company’s stock after selling 200,064 shares during the period. Deutsche Bank AG owned about 0.56% of Tidewater worth $12,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of TDW. Signaturefd LLC increased its holdings in shares of Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 282 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Tidewater by 1.5% in the first quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company’s stock valued at $1,160,000 after purchasing an additional 405 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tidewater by 13.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company’s stock valued at $227,000 after purchasing an additional 479 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Tidewater by 0.9% in the fourth quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company’s stock valued at $3,020,000 after purchasing an additional 496 shares in the last quarter. Finally, Spire Wealth Management increased its holdings in shares of Tidewater by 14.3% in the first quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company’s stock valued at $168,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TDW. BTIG Research lowered shares of Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Raymond James Financial lowered their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Finally, Evercore ISI raised their price objective on shares of Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.00.

Insiders Place Their Bets

In other news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total transaction of $575,600.00. Following the transaction, the executive vice president directly owned 75,986 shares of the company’s stock, valued at $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Robotti purchased 15,000 shares of Tidewater stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the transaction, the director owned 2,234,957 shares of the company’s stock, valued at approximately $93,979,941.85. This represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 25,560 shares of company stock worth $1,074,858. Insiders own 6.60% of the company’s stock.

Tidewater Price Performance

Shares of TDW stock opened at $55.97 on Friday. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $91.40. The stock has a market cap of $2.77 billion, a PE ratio of 14.50 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The firm’s 50 day moving average price is $49.99 and its two-hundred day moving average price is $45.22.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The firm had revenue of $341.43 million for the quarter, compared to analysts’ expectations of $317.28 million. During the same period last year, the firm earned $0.94 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater declared that its Board of Directors has authorized a share repurchase program on Monday, August 4th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares buyback programs are usually an indication 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.