Villere St Denis J & Co LLC has significantly reduced its stake in Tidewater Inc. (TDW), selling 134,355 shares valued at approximately $9.34 million, according to an SEC filing dated April 30, 2026. This transaction leaves the firm with 292,866 shares, representing 2.7% of its total assets under management, despite Tidewater’s stock price soaring 134.8% over the past year. The fund’s top holdings now include major names like Chevron (CVX) and JPMorgan (JPM).
This reduction in Tidewater shares comes after a strong performance in early March, where the stock rose sharply. Despite the cut, the remaining position’s value increased by 13% in the first quarter, indicating robust underlying performance. Tidewater’s operational strength is underscored by its $426 million in free cash flow from $1.35 billion in revenue in 2025, and the company has guided for 2026 revenues between $1.43 billion and $1.48 billion.
Investors should watch for Tidewater’s upcoming earnings report on May 4, as positive guidance revisions are anticipated due to rising global oil prices, potentially impacting stock performance further.
Source: fool.com