Assenagon Asset Management S.A. Sells 153,451 Shares of Tidewater Inc. (NYSE:TDW)

Assenagon Asset Management S.A. cut its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 68.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,274 shares of the oil and gas company's stock after selling 153,451 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Tidewater worth $2,928,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Tidewater in the fourth quarter worth approximately $4,347,000. Principal Financial Group Inc. raised its stake in Tidewater by 4.1% during the fourth quarter. Principal Financial Group Inc. now owns 276,113 shares of the oil and gas company's stock worth $15,106,000 after buying an additional 10,795 shares during the last quarter. Norges Bank acquired a new position in Tidewater in the fourth quarter valued at $32,388,000. GAMMA Investing LLC lifted its holdings in Tidewater by 24,310.4% in the first quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock valued at $4,767,000 after buying an additional 112,314 shares during the period. Finally, Captrust Financial Advisors boosted its position 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 acquiring an additional 1,394 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Insiders Place Their Bets

In other Tidewater news, Director Robert Robotti bought 15,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the transaction, the director now directly owns 2,234,957 shares in the company, valued at approximately $93,979,941.85. The trade was a 0.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have acquired 25,560 shares of company stock worth $1,074,858. Insiders own 8.33% of the company's stock.

Tidewater Stock Down 0.7%

Shares of NYSE TDW traded down $0.34 during trading on Tuesday, hitting $47.16. 685,154 shares of the company traded hands, compared to its average volume of 1,082,104. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 13.87 and a beta of 1.07. The business's fifty day moving average is $39.60 and its 200 day moving average is $45.75. 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 Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results 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 return on equity of 18.16% and a net margin of 13.92%. During the same period last year, the company earned $0.89 EPS. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Raymond James cut 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Tidewater presently has an average rating of "Hold" and a consensus target price of $69.33.

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.