Assenagon Asset Management S.A. Trims Stake in Tidewater Inc. (NYSE:TDW)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Tidewater in the 4th quarter worth approximately $32,388,000. Price T Rowe Associates Inc. MD grew its stake in Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock worth $126,180,000 after purchasing an additional 390,814 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after purchasing an additional 286,097 shares in the last quarter. Encompass Capital Advisors LLC raised its holdings in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock worth $86,569,000 after purchasing an additional 238,170 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Tidewater during the fourth quarter valued at $12,574,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert Robotti bought 15,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the purchase, the director now owns 2,234,957 shares in the company, valued at approximately $93,979,941.85. This represents a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 25,560 shares of company stock worth $1,074,858. 8.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Tidewater Stock Down 1.0%

TDW stock traded down $0.49 on Friday, reaching $46.56. 672,592 shares of the company traded hands, compared to its average volume of 1,102,275. The firm has a fifty day simple moving average of $40.29 and a 200-day simple moving average of $45.74. 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 company has a market cap of $2.30 billion, a P/E ratio of 13.94 and a beta of 1.07. Tidewater Inc. has a one year low of $31.17 and a one year high of $108.44.

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

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.