Gotham Asset Management LLC Invests $1.01 Million in Tidewater Inc. (NYSE:TDW)

Gotham Asset Management LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 18,464 shares of the oil and gas company's stock, valued at approximately $1,010,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Tidewater during the 4th quarter valued at $4,347,000. Hodges Capital Management Inc. raised its position in shares of Tidewater by 103.0% during the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock valued at $5,288,000 after acquiring an additional 49,050 shares during the last quarter. Barclays PLC raised its position in shares of Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after acquiring an additional 61,487 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after acquiring an additional 1,390,951 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Tidewater by 4.1% during the 4th quarter. Principal Financial Group Inc. now owns 276,113 shares of the oil and gas company's stock valued at $15,106,000 after acquiring an additional 10,795 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. This trade represents a 1.14% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 8.33% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their price objective 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 issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $69.33.

Tidewater Trading Down 3.1%

Shares of TDW traded down $1.29 during trading hours on Wednesday, reaching $39.75. The stock had a trading volume of 519,041 shares, compared to its average volume of 1,089,111. 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 Inc. has a 52 week low of $31.17 and a 52 week high of $110.06. The firm has a 50-day moving average of $38.69 and a 200 day moving average of $47.29. The company has a market cap of $1.97 billion, a P/E ratio of 11.69 and a beta of 1.00.

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 for the quarter, topping analysts' consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same period last year, the firm posted $0.89 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater Company 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.