10,684 Shares in Tidewater Inc. (NYSE:TDW) Purchased by Balefire LLC

Balefire LLC purchased a new position in Tidewater Inc. (NYSE:TDW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 10,684 shares of the oil and gas company's stock, valued at approximately $452,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TDW. Spire Wealth Management raised its holdings in Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock valued at $168,000 after buying an additional 498 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Tidewater during the 1st quarter valued at $569,000. FNY Investment Advisers LLC raised its holdings in Tidewater by 391.3% during the 1st quarter. FNY Investment Advisers LLC now owns 8,598 shares of the oil and gas company's stock valued at $363,000 after buying an additional 6,848 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in Tidewater by 710.8% during the 1st quarter. Exchange Traded Concepts LLC now owns 15,510 shares of the oil and gas company's stock valued at $656,000 after buying an additional 13,597 shares during the last quarter. Finally, Salem Investment Counselors Inc. bought a new stake in Tidewater during the 1st quarter valued at $254,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Trading Up 0.7%

Tidewater stock traded up $0.31 during mid-day trading on Friday, reaching $46.97. 1,601,731 shares of the company traded hands, compared to its average volume of 1,049,947. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 2.00. The firm's 50 day moving average price is $41.74 and its 200 day moving average price is $45.61. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 14.06 and a beta of 1.07. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. The company's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.89 EPS. On average, analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James Financial reduced their price objective 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 research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $69.33.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti purchased 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was bought at an average cost of $42.14 per share, for a total transaction of $421,400.00. Following the purchase, the director now directly owns 2,219,957 shares in the company, valued at $93,548,987.98. The trade was a 0.45% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 25,560 shares of company stock worth $1,074,858 in the last three months. 8.33% of the stock is owned by corporate insiders.

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.