Tidewater Inc. (NYSE:TDW) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC raised its position in Tidewater Inc. (NYSE:TDW - Free Report) by 710.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,510 shares of the oil and gas company's stock after purchasing an additional 13,597 shares during the quarter. Exchange Traded Concepts LLC's holdings in Tidewater were worth $656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TDW. EverSource Wealth Advisors LLC raised its stake in shares of Tidewater by 45.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 333 shares during the period. Private Advisor Group LLC boosted its position in Tidewater by 9.5% in the 4th quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock valued at $291,000 after buying an additional 463 shares during the period. Tower Research Capital LLC TRC boosted its position in Tidewater by 13.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock valued at $227,000 after buying an additional 479 shares during the period. Russell Investments Group Ltd. boosted its position in Tidewater by 0.9% in the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company's stock valued at $3,020,000 after buying an additional 496 shares during the period. Finally, AlphaQuest LLC boosted its position in 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 buying an additional 511 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Tidewater

In other news, Director Robert Robotti acquired 15,000 shares of the firm'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 transaction, the director now owns 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders bought 25,560 shares of company stock valued at $1,074,858. Insiders own 8.33% of the company's stock.

Tidewater Stock Down 1.3%

TDW stock traded down $0.62 during midday trading on Friday, hitting $46.43. The company's stock had a trading volume of 1,858,965 shares, compared to its average volume of 1,048,386. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $108.44. The firm has a market capitalization of $2.30 billion, a P/E ratio of 13.90 and a beta of 1.07. The firm has a 50-day simple moving average of $40.51 and a 200-day simple moving average of $45.67.

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, topping the consensus estimate 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. As a group, equities analysts forecast that Tidewater Inc. will post 3.25 EPS 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.