Squarepoint Ops LLC Buys 98,522 Shares of Tidewater Inc. (NYSE:TDW)

Squarepoint Ops LLC raised its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 89.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,744 shares of the oil and gas company's stock after acquiring an additional 98,522 shares during the period. Squarepoint Ops LLC owned approximately 0.40% of Tidewater worth $11,420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings 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 acquiring an additional 56,919 shares in the last quarter. Robotti Robert raised its holdings in Tidewater by 1.1% in the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company's stock valued at $144,050,000 after acquiring an additional 28,083 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Tidewater by 20.4% during the 4th 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 holdings in shares of Tidewater by 17.7% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock worth $86,569,000 after buying an additional 238,170 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Tidewater by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after buying an additional 286,097 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Robotti acquired 25,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now directly owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. This represents a 1.14% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Raymond James lowered their price target on 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $69.33.

Tidewater Price Performance

Shares of Tidewater stock traded down $0.01 during trading on Wednesday, reaching $41.32. 181,753 shares of the company's stock were exchanged, compared to its average volume of 1,089,500. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a market cap of $2.04 billion, a P/E ratio of 12.18 and a beta of 1.00. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $108.44. The firm's 50-day moving average price is $38.51 and its 200 day moving average price is $46.55.

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, beating the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same period in the prior year, the company earned $0.89 earnings per share. Tidewater's revenue was up 3.8% on a year-over-year basis. As a group, research analysts anticipate 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.