Freestone Grove Partners LP Purchases Shares of 229,831 Tidewater Inc. (NYSE:TDW)

Freestone Grove Partners LP purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 229,831 shares of the oil and gas company's stock, valued at approximately $12,574,000. Freestone Grove Partners LP owned 0.44% of Tidewater as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TDW. Raymond James Financial Inc. bought a new stake in shares of Tidewater in the 4th quarter worth approximately $4,347,000. Hodges Capital Management Inc. grew its holdings in shares of Tidewater by 103.0% in the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after acquiring an additional 49,050 shares during the period. Harbor Capital Advisors Inc. raised its holdings in Tidewater by 23.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock worth $8,431,000 after purchasing an additional 29,721 shares during the period. Barclays PLC boosted its holdings in Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock worth $5,661,000 after buying an additional 61,487 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after buying an additional 1,390,951 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Price Performance

NYSE TDW traded down $0.51 during mid-day trading on Monday, hitting $37.98. The stock had a trading volume of 869,584 shares, compared to its average volume of 1,084,339. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $111.42. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 11.17 and a beta of 1.00. The company has a 50 day simple moving average of $39.05 and a 200 day simple moving average of $48.87.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The oil and gas company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.34. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. Tidewater's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Buying and Selling at Tidewater

In related news, Director Robert Robotti purchased 1,770 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $40.95 per share, with a total value of $72,481.50. Following the completion of the acquisition, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TDW. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Tidewater has a consensus rating of "Moderate Buy" and a consensus target price of $92.50.

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.