Calamos Advisors LLC Acquires 5,962 Shares of Tidewater Inc. (NYSE:TDW)

Calamos Advisors LLC grew its holdings in Tidewater Inc. (NYSE:TDW) by 25.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,511 shares of the oil and gas company’s stock after acquiring an additional 5,962 shares during the quarter. Calamos Advisors LLC’s holdings in Tidewater were worth $2,810,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Tidewater by 25.7% in the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after acquiring an additional 985,398 shares during the period. Boston Partners boosted its position in shares of Tidewater by 11.7% in the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after acquiring an additional 243,489 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock valued at $130,195,000 after acquiring an additional 31,292 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in Tidewater during the first quarter worth about $34,898,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Tidewater by 1.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 375,475 shares of the oil and gas company’s stock worth $27,076,000 after purchasing an additional 4,294 shares during the period. Institutional investors own 95.13% of the company’s stock.

Insider Transactions at Tidewater

In other news, Director Kenneth Traub sold 20,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the director now owns 68,802 shares of the company’s stock, valued at $7,319,156.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth Traub sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the director now owns 68,802 shares of the company’s stock, valued at $7,319,156.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Quintin Kneen sold 166,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $103.76, for a total value of $17,224,160.00. Following the completion of the transaction, the chief executive officer now directly owns 335,718 shares of the company’s stock, valued at approximately $34,834,099.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 211,666 shares of company stock valued at $22,025,901. 8.33% of the stock is currently owned by insiders.

Tidewater Price Performance

Shares of TDW stock traded up $4.26 on Friday, reaching $88.63. The company had a trading volume of 748,574 shares, compared to its average volume of 846,178. The stock has a market capitalization of $4.68 billion, a PE ratio of 35.31 and a beta of 1.20. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a one year low of $54.53 and a one year high of $111.42. The business’s 50-day moving average is $93.83 and its 200 day moving average is $91.96.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The firm had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. Equities research analysts forecast that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has initiated a stock buyback plan on Thursday, May 2nd that permits the company to repurchase $18.10 million in shares. This repurchase authorization permits the oil and gas company to buy up to 0.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

TDW has been the subject of several recent analyst reports. BTIG Research upped their price objective on shares of Tidewater from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Raymond James upped their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One 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. According to data from MarketBeat, Tidewater presently has an average rating of “Buy” and a consensus price target of $111.25.

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.