Freestone Grove Partners LP Makes New $12.57 Million Investment in Tidewater Inc. (NYSE:TDW)

Freestone Grove Partners LP acquired a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 229,831 shares of the oil and gas company's stock, valued at approximately $12,574,000. Freestone Grove Partners LP owned about 0.44% of Tidewater at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock valued at $257,000 after acquiring an additional 267 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 333 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in shares of Tidewater by 2.3% in the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock worth $961,000 after buying an additional 402 shares during the last quarter. Private Advisor Group LLC increased its holdings in Tidewater by 9.5% during the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock worth $291,000 after buying an additional 463 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in 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 worth $227,000 after acquiring an additional 479 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TDW shares. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI downgraded Tidewater from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, Raymond James dropped their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $84.50.

Tidewater Price Performance

TDW stock traded down $0.23 during mid-day trading on Wednesday, reaching $40.00. 310,003 shares of the company traded hands, compared to its average volume of 1,199,268. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $110.06. The company has a market capitalization of $2.03 billion, a P/E ratio of 11.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The company has a fifty day moving average price of $38.68 and a 200-day moving average price of $48.65.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The oil and gas company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.49 by $0.34. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm had revenue of $333.44 million during the quarter, compared to the consensus estimate of $325.90 million. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. As a group, analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insider Transactions at Tidewater

In related news, Director Robert Robotti purchased 25,000 shares of the business's 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 purchase, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents 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. 8.33% of the stock is owned by insiders.

Tidewater 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.