Balefire LLC Invests $452,000 in Tidewater Inc. (NYSE:TDW)

Balefire LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,684 shares of the oil and gas company's stock, valued at approximately $452,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TDW. AlphaQuest LLC increased 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 during the period. Headlands Technologies LLC purchased a new position in shares of Tidewater in the 4th quarter valued at $53,000. EverSource Wealth Advisors LLC grew its stake in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after buying an additional 333 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in Tidewater by 336.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock worth $87,000 after buying an additional 1,224 shares during the last quarter. Finally, Covestor Ltd increased its position in Tidewater by 54.9% during the 4th quarter. Covestor Ltd now owns 1,819 shares of the oil and gas company's stock valued at $100,000 after buying an additional 645 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Up 0.7%

NYSE:TDW traded up $0.31 during mid-day trading on Friday, hitting $46.97. 1,601,731 shares of the company's stock traded hands, compared to its average volume of 1,048,449. The company has a fifty day moving average of $41.74 and a 200 day moving average of $45.57. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $108.44. The company has a market capitalization of $2.32 billion, a P/E ratio of 14.06 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07.

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 for the quarter, beating analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. On average, analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reduced their target price 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Tidewater has a consensus rating of "Hold" and a consensus target price of $69.33.

Insider Activity

In other news, Director Robert Robotti acquired 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the acquisition, the director now owns 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last three months, insiders have bought 25,560 shares of company stock valued at $1,074,858. Company insiders own 8.33% of the company's stock.

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.