Oppenheimer & Co. Inc. Invests $569,000 in Tidewater Inc. (NYSE:TDW)

Oppenheimer & Co. Inc. acquired a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,450 shares of the oil and gas company's stock, valued at approximately $569,000.

A number of other large investors also recently modified their holdings of TDW. AlphaQuest LLC raised its holdings in Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 511 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Tidewater during the fourth quarter worth about $53,000. EverSource Wealth Advisors LLC raised its stake in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after purchasing an additional 333 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Tidewater by 336.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 1,224 shares in the last quarter. Finally, Covestor Ltd boosted its stake in Tidewater by 54.9% in the 4th quarter. Covestor Ltd now owns 1,819 shares of the oil and gas company's stock worth $100,000 after purchasing an additional 645 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insiders Place Their Bets

In related news, Director Robert Robotti acquired 15,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the transaction, the director directly owned 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased 25,560 shares of company stock worth $1,074,858 over the last quarter. Insiders own 8.33% of the company's stock.

Analyst Ratings Changes

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

Tidewater Price Performance

NYSE:TDW opened at $46.29 on Tuesday. The business's 50-day moving average is $42.00 and its 200 day moving average is $45.56. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $108.44. The company has a market capitalization of $2.29 billion, a P/E ratio of 13.86 and a beta of 1.07. The company has a current ratio of 2.07, a quick ratio of 2.00 and a debt-to-equity ratio of 0.50.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities research analysts forecast 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.

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