Tidewater Inc. (NYSE:TDW) Shares Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC grew its stake in Tidewater Inc. (NYSE:TDW) by 110.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 340,103 shares of the oil and gas company’s stock after buying an additional 178,650 shares during the quarter. Voloridge Investment Management LLC owned 0.65% of Tidewater worth $18,607,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Tidewater by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock worth $300,155,000 after purchasing an additional 56,919 shares during the period. Robotti Robert raised its holdings in Tidewater by 1.1% in the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock worth $144,050,000 after purchasing an additional 28,083 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Tidewater by 20.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after purchasing an additional 390,814 shares during the period. Encompass Capital Advisors LLC raised its holdings in Tidewater by 17.7% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after purchasing an additional 238,170 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Tidewater by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after purchasing an additional 286,097 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti bought 25,000 shares of Tidewater stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the acquisition, the director now directly owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. The trade was a 1.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.33% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James reduced their price target on Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $69.33.

Tidewater Stock Performance

NYSE TDW opened at $39.40 on Friday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 11.59 and a beta of 1.00. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $108.44. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $38.64 and a 200 day moving average of $47.10.

Tidewater (NYSE:TDW) last announced its earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same quarter in the previous year, the company earned $0.89 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. Sell-side analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

About Tidewater

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.