Harbor Capital Advisors Inc. Buys 25,398 Shares of Tidewater Inc. (NYSE:TDW)

Harbor Capital Advisors Inc. lifted its position in Tidewater Inc. (NYSE:TDW - Free Report) by 16.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 179,510 shares of the oil and gas company's stock after buying an additional 25,398 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.35% of Tidewater worth $7,588,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TDW. AlphaQuest LLC lifted its stake in shares of 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 purchasing an additional 511 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Tidewater during the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC lifted its holdings in 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 worth $58,000 after purchasing an additional 333 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Tidewater by 2,018.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock valued at $70,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in Tidewater by 336.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock valued at $87,000 after purchasing an additional 1,224 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tidewater Stock Performance

Shares of NYSE TDW traded up $2.09 during mid-day trading on Tuesday, hitting $47.60. The company had a trading volume of 1,680,389 shares, compared to its average volume of 1,097,694. The business's 50-day simple moving average is $38.27 and its 200-day simple moving average is $45.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market cap of $2.36 billion, a P/E ratio of 14.00 and a beta of 1.07. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings data 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 net margin of 13.92% and a return on equity of 18.16%. During the same period in the previous year, the business posted $0.89 earnings per share. The company's quarterly revenue was up 3.8% on a year-over-year basis. As a group, analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Robotti acquired 10,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was purchased at an average cost of $42.14 per share, for a total transaction of $421,400.00. Following the completion of the purchase, the director now directly owns 2,219,957 shares of the company's stock, valued at $93,548,987.98. The trade was a 0.45% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 50,560 shares of company stock worth $2,077,608 in the last 90 days. 8.33% of the stock is owned by company insiders.

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.