Tidewater Inc. (NYSE:TDW) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 24,310.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 112,776 shares of the oil and gas company's stock after buying an additional 112,314 shares during the period. GAMMA Investing LLC owned 0.22% of Tidewater worth $4,767,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Bleakley Financial Group LLC purchased a new position in shares of Tidewater in the 4th quarter worth $368,000. Van ECK Associates Corp raised its holdings in Tidewater by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company's stock valued at $45,752,000 after buying an additional 124,610 shares during the period. Villere ST Denis J & Co. LLC lifted its position in Tidewater by 35.1% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company's stock valued at $26,633,000 after buying an additional 126,441 shares in the last quarter. Empire Life Investments Inc. grew its stake in Tidewater by 29.6% during the fourth quarter. Empire Life Investments Inc. now owns 380,890 shares of the oil and gas company's stock worth $20,838,000 after buying an additional 87,006 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Tidewater by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 276,113 shares of the oil and gas company's stock worth $15,106,000 after acquiring an additional 10,795 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Raymond James 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 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 currently has a consensus rating of "Hold" and an average target price of $69.33.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti purchased 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 acquisition, the director now owns 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. This represents a 0.68% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders bought 25,560 shares of company stock worth $1,074,858. Corporate insiders own 8.33% of the company's stock.

Tidewater Stock Up 0.3%

Shares of NYSE TDW traded up $0.12 during trading on Friday, reaching $48.34. 780,343 shares of the stock were exchanged, compared to its average volume of 1,084,085. The business's 50-day moving average price is $38.99 and its 200 day moving average price is $45.85. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 14.22 and a beta of 1.07. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $108.44. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Tidewater (NYSE:TDW - Get Free Report) last announced its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The business's quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. As a group, equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

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.