53,462 Shares in Tidewater Inc. (NYSE:TDW) Acquired by CX Institutional

CX Institutional acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 53,462 shares of the oil and gas company's stock, valued at approximately $2,260,000. CX Institutional owned approximately 0.10% of Tidewater as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

Separately, Raymond James decreased their target price on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $69.33.

Tidewater Stock Performance

TDW traded up $0.12 on Friday, hitting $48.34. 780,345 shares of the company traded hands, compared to its average volume of 1,084,364. The company has a 50 day moving average of $39.30 and a 200-day moving average of $45.78. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.39 billion, a PE ratio of 14.22 and a beta of 1.07. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating 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%. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti bought 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average cost of $42.05 per share, with a total value 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders purchased a total of 25,560 shares of company stock valued at $1,074,858 in the last ninety days. Insiders own 8.33% of the company's stock.

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.