Deutsche Bank AG Acquires 205,887 Shares of Tidewater Inc. (NYSE:TDW)

Deutsche Bank AG raised its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 486,151 shares of the oil and gas company's stock after purchasing an additional 205,887 shares during the quarter. Deutsche Bank AG owned 0.93% of Tidewater worth $26,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 333 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Tidewater by 2.3% during the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock valued at $961,000 after purchasing an additional 402 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Tidewater by 9.5% in the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock valued at $291,000 after acquiring an additional 463 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Tidewater by 13.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock valued at $227,000 after acquiring an additional 479 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Tidewater by 0.9% in the fourth quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company's stock valued at $3,020,000 after acquiring an additional 496 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Robert Robotti acquired 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the transaction, the director now directly 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.33% of the stock is currently owned by corporate insiders.

Tidewater Price Performance

Shares of NYSE:TDW traded down $0.06 during trading on Friday, reaching $41.86. The stock had a trading volume of 616,854 shares, compared to its average volume of 1,092,751. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $110.06. The business's 50-day moving average price is $38.67 and its 200 day moving average price is $47.55. 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 stock has a market capitalization of $2.07 billion, a PE ratio of 12.31 and a beta of 1.00.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share 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%. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current year.

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.