Balyasny Asset Management L.P. Sells 6,506 Shares of Tidewater Inc. (NYSE:TDW)

Balyasny Asset Management L.P. lessened its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,271 shares of the oil and gas company's stock after selling 6,506 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Tidewater were worth $398,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TDW. Vanguard Group Inc. increased its holdings in Tidewater by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company's stock valued at $300,155,000 after purchasing an additional 56,919 shares during the period. Robotti Robert grew its position in shares of 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 buying an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock valued at $126,180,000 after buying an additional 390,814 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 286,097 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Tidewater by 42,719.6% in 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 acquiring an additional 1,390,951 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

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

Tidewater Stock Performance

NYSE TDW traded up $0.43 during trading hours on Tuesday, hitting $41.01. The company's stock had a trading volume of 540,595 shares, compared to its average volume of 1,088,829. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $110.06. The company's 50 day simple moving average is $38.67 and its two-hundred day simple moving average is $47.33. 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 market cap of $2.03 billion, a P/E ratio of 12.06 and a beta of 1.00.

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 net margin of 13.92% and a return on equity of 18.16%. During the same period last year, the firm earned $0.89 earnings per share. Tidewater's revenue for the quarter was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Robotti acquired 25,000 shares of Tidewater stock in a transaction on Thursday, March 13th. The shares were 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 $88,589,753.70. The trade was a 1.14% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.