Raffles Associates LP Makes New Investment in Tidewater Inc. (NYSE:TDW)

Raffles Associates LP purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 41,000 shares of the oil and gas company's stock, valued at approximately $2,243,000. Tidewater comprises about 2.4% of Raffles Associates LP's investment portfolio, making the stock its 13th biggest holding. Raffles Associates LP owned approximately 0.08% of Tidewater as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in TDW. Pacer Advisors Inc. raised its position in shares of Tidewater by 42,719.6% during the fourth 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 during the last quarter. Norges Bank purchased a new stake in Tidewater in the 4th quarter worth $32,388,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Tidewater by 20.4% in the fourth 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 last quarter. Dimensional Fund Advisors LP boosted its stake in Tidewater by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock valued at $84,888,000 after buying an additional 286,097 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Tidewater during the 4th quarter valued at approximately $12,574,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Trading Up 7.6 %

Shares of NYSE TDW traded up $2.88 during mid-day trading on Tuesday, reaching $40.89. The company had a trading volume of 940,353 shares, compared to its average volume of 1,200,879. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $111.42. The business's 50-day moving average is $38.85 and its 200-day moving average is $48.71. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 12.03 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

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

Wall Street Analysts Forecast Growth

TDW has been the subject of a number of research reports. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Tidewater presently has an average rating of "Moderate Buy" and a consensus price target of $92.50.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.33% of the stock is owned by insiders.

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.