Tidewater Inc. (NYSE:TDW) Shares Acquired by CoreCommodity Management LLC

CoreCommodity Management LLC boosted its position in Tidewater Inc. (NYSE:TDW - Free Report) by 195.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,285 shares of the oil and gas company's stock after buying an additional 13,425 shares during the period. CoreCommodity Management LLC's holdings in Tidewater were worth $1,110,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capstone Investment Advisors LLC bought a new position in shares of Tidewater in the fourth quarter valued at approximately $370,000. Captrust Financial Advisors grew its holdings in Tidewater by 26.5% during the fourth quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock valued at $364,000 after purchasing an additional 1,394 shares during the period. Ameriprise Financial Inc. grew its holdings in Tidewater by 13.2% during the fourth quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock valued at $47,473,000 after purchasing an additional 101,159 shares during the period. Allegheny Financial Group bought a new position in Tidewater during the fourth quarter valued at $211,000. Finally, Praetorian PR LLC grew its holdings in Tidewater by 34.7% during the fourth quarter. Praetorian PR LLC now owns 431,000 shares of the oil and gas company's stock valued at $23,580,000 after purchasing an additional 111,000 shares during the period. 95.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TDW shares. Pickering Energy Partners lowered 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 lowered their price objective for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Finally, Raymond James lowered their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $69.33.

Insider Activity at Tidewater

In related news, Director Robert Robotti acquired 25,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the purchase, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This represents a 1.14% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.33% of the stock is currently owned by corporate insiders.

Tidewater Price Performance

Shares of Tidewater stock traded up $1.37 during trading hours on Monday, hitting $42.82. The company's stock had a trading volume of 364,123 shares, compared to its average volume of 1,088,416. The business has a 50 day moving average price of $38.55 and a two-hundred day moving average price of $48.09. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $110.06. The company has a market cap of $2.18 billion, a PE ratio of 12.59 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The company's revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. Analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

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.