Ameriprise Financial Inc. Raises Stake in Tidewater Inc. (NYSE:TDW)

Ameriprise Financial Inc. increased its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 13.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 867,875 shares of the oil and gas company's stock after purchasing an additional 101,159 shares during the period. Ameriprise Financial Inc. owned 1.66% of Tidewater worth $47,473,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. AlphaQuest LLC raised its holdings in shares of Tidewater by 177.4% in the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 511 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Tidewater in the 4th quarter valued at about $53,000. EverSource Wealth Advisors LLC raised its holdings in shares of Tidewater by 45.5% in 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 acquiring an additional 333 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Tidewater by 2,018.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock valued at $70,000 after acquiring an additional 1,211 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Tidewater by 336.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock valued at $87,000 after acquiring an additional 1,224 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Stock Performance

Shares of NYSE TDW opened at $41.44 on Monday. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 12.19 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 Inc. has a 1-year low of $31.17 and a 1-year high of $110.06. The stock's 50-day moving average is $38.55 and its 200 day moving average is $48.09.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping 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%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tidewater news, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the purchase, the director now owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. This represents a 0.08% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Raymond James lowered their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Evercore ISI cut Tidewater from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $69.33.

Tidewater Company 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.

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