39,519 Shares in Tidewater Inc. (NYSE:TDW) Bought by Man Group plc

Man Group plc purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 39,519 shares of the oil and gas company's stock, valued at approximately $2,162,000. Man Group plc owned 0.08% of Tidewater at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. raised its position in Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after purchasing an additional 1,390,951 shares in the last quarter. Norges Bank acquired a new position in Tidewater during the fourth quarter valued at approximately $32,388,000. Price T Rowe Associates Inc. MD raised its position in 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 valued at $126,180,000 after purchasing an additional 390,814 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 purchasing an additional 286,097 shares in the last quarter. Finally, Encompass Capital Advisors LLC raised its position in Tidewater by 17.7% during 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 purchasing an additional 238,170 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

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 equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $69.33.

Tidewater Price Performance

Shares of NYSE:TDW traded up $1.82 during trading on Tuesday, hitting $41.28. 392,797 shares of the company were exchanged, compared to its average volume of 1,090,216. The business's 50 day moving average is $38.54 and its 200-day moving average is $46.58. The company has a market capitalization of $2.04 billion, a P/E ratio of 12.13 and a beta of 1.00. 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 1-year low of $31.17 and a 1-year high of $108.44.

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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Equities analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insider Transactions at Tidewater

In related news, Director Robert Robotti purchased 1,770 shares of the stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the acquisition, the director now owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. This represents a 0.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.33% of the company's stock.

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.