Tidewater Inc. (NYSE:TDW) Shares Bought by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 16.5% in the 1st quarter, according to its most recent Form 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 period. Harbor Capital Advisors Inc. owned 0.35% of Tidewater worth $7,588,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Tidewater by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company's stock valued at $300,155,000 after purchasing an additional 56,919 shares during the last quarter. Robotti Robert boosted its stake in shares of Tidewater by 1.1% during the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company's stock worth $144,050,000 after purchasing an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock worth $126,180,000 after buying an additional 390,814 shares in the last quarter. Encompass Capital Advisors LLC raised its position in shares of Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after buying an additional 238,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Tidewater by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock valued at $84,888,000 after buying an additional 286,097 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Raymond James lowered their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Tidewater has an average rating of "Hold" and a consensus target price of $69.33.

Insider Activity

In other Tidewater news, Director Robert Robotti purchased 15,000 shares of Tidewater stock in a transaction on Wednesday, June 4th. The shares were purchased at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the transaction, the director now directly owns 2,234,957 shares in the company, valued at approximately $93,979,941.85. This represents a 0.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 25,560 shares of company stock valued at $1,074,858 in the last three months. Corporate insiders own 8.33% of the company's stock.

Tidewater Trading Up 0.3%

Shares of TDW traded up $0.12 during mid-day trading on Friday, hitting $48.34. The company had a trading volume of 780,345 shares, compared to its average volume of 1,085,412. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $108.44. The business's 50-day simple moving average is $39.30 and its 200-day simple moving average is $45.84. The stock has a market cap of $2.39 billion, a PE ratio of 14.22 and a beta of 1.07. 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 quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share 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%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.89 EPS. Sell-side analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current 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.