Farther Finance Advisors LLC Raises Holdings in Tidewater Inc. (NYSE:TDW)

Farther Finance Advisors LLC boosted its position in Tidewater Inc. (NYSE:TDW - Free Report) by 94,555.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,519 shares of the oil and gas company's stock after buying an additional 8,510 shares during the period. Farther Finance Advisors LLC's holdings in Tidewater were worth $366,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Tidewater during the 4th quarter worth approximately $4,347,000. Principal Financial Group Inc. boosted its position in shares of 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 valued at $15,106,000 after buying an additional 10,795 shares during the last quarter. Norges Bank bought a new stake in Tidewater during the fourth quarter worth $32,388,000. GAMMA Investing LLC grew its holdings in Tidewater by 24,310.4% during the first quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock worth $4,767,000 after buying an additional 112,314 shares in the last quarter. Finally, Captrust Financial Advisors raised its position in Tidewater by 26.5% in the 4th quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock valued at $364,000 after buying an additional 1,394 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tidewater

In related news, Director Robert Robotti bought 15,000 shares of Tidewater stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average cost of $42.05 per share, with a total value of $630,750.00. Following the transaction, the director now directly owns 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. The trade was a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders purchased 25,560 shares of company stock worth $1,074,858. 8.33% of the stock is owned by company insiders.

Tidewater Stock Performance

Shares of Tidewater stock traded down $0.69 during mid-day trading on Friday, hitting $46.36. 606,516 shares of the stock were exchanged, compared to its average volume of 1,079,176. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $108.44. The company has a 50-day simple moving average of $40.29 and a 200 day simple moving average of $45.74. The company has a market capitalization of $2.29 billion, a P/E ratio of 13.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the business earned $0.89 earnings per share. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial cut their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Tidewater presently has an average rating of "Hold" and an average target price of $69.33.

About Tidewater

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.