Gallacher Capital Management LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,741 shares of the oil and gas company's stock, valued at approximately $243,000.
Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC acquired a new position in Tidewater during the 1st quarter worth $30,000. Signaturefd LLC boosted its holdings in shares of Tidewater by 33.3% in the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after buying an additional 282 shares during the period. Headlands Technologies LLC acquired a new position in shares of Tidewater in the 4th quarter valued at about $53,000. Covestor Ltd boosted its holdings in shares of Tidewater by 54.9% in the 4th quarter. Covestor Ltd now owns 1,819 shares of the oil and gas company's stock valued at $100,000 after buying an additional 645 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of Tidewater in the 4th quarter valued at about $109,000. 95.13% of the stock is owned by institutional investors and hedge funds.
Tidewater Stock Down 0.0%
Shares of NYSE TDW traded down $0.02 during trading hours on Friday, hitting $51.80. The stock had a trading volume of 93,855 shares, compared to its average volume of 1,065,596. The firm's 50-day moving average price is $45.90 and its two-hundred day moving average price is $45.35. 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 Inc. has a 52 week low of $31.17 and a 52 week high of $102.39. The company has a market capitalization of $2.56 billion, a P/E ratio of 15.54 and a beta of 1.08.
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, topping 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 last year, the firm earned $0.89 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, EVP Daniel A. Hudson sold 5,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total value of $250,100.00. Following the completion of the transaction, the executive vice president directly owned 85,986 shares in the company, valued at approximately $4,301,019.72. This represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Robotti bought 15,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average price of $42.05 per share, with a total value of $630,750.00. Following the completion of the purchase, the director directly owned 2,234,957 shares of the company's stock, valued at $93,979,941.85. This represents a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 25,560 shares of company stock valued at $1,074,858 over the last 90 days. 8.33% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on TDW shares. Raymond James Financial cut their target price on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $69.33.
View Our Latest Analysis on TDW
Tidewater Company Profile
(
Free Report)
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.
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