Voloridge Investment Management LLC Boosts Holdings in Tidewater Inc. (NYSE:TDW)

Voloridge Investment Management LLC raised its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 110.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 340,103 shares of the oil and gas company's stock after buying an additional 178,650 shares during the quarter. Voloridge Investment Management LLC owned about 0.65% of Tidewater worth $18,607,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC grew 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 worth $44,000 after acquiring an additional 511 shares during the period. Headlands Technologies LLC acquired a new stake in Tidewater in the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC increased 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 worth $58,000 after buying an additional 333 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Tidewater by 2,018.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after buying an additional 1,211 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of 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 acquiring an additional 1,224 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

NYSE TDW traded down $0.06 during mid-day trading on Wednesday, hitting $41.27. The stock had a trading volume of 199,259 shares, compared to its average volume of 1,089,610. The firm's 50 day moving average is $38.51 and its 200 day moving average is $46.55. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $108.44. 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 stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 12.14 and a beta of 1.00.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data 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%. During the same quarter in the previous year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast 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 purchased 25,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 8.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Raymond James reduced their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note 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, Tidewater currently has a consensus rating of "Hold" and an average price target of $69.33.

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.