NBC Securities Inc. Acquires 13,908 Shares of Tidewater Inc. (NYSE:TDW)

NBC Securities Inc. increased its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 115,900.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,920 shares of the oil and gas company's stock after purchasing an additional 13,908 shares during the period. NBC Securities Inc.'s holdings in Tidewater were worth $588,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TDW. 180 Wealth Advisors LLC grew its holdings in Tidewater by 25.6% in the first quarter. 180 Wealth Advisors LLC now owns 6,322 shares of the oil and gas company's stock worth $267,000 after purchasing an additional 1,287 shares during the period. Rhumbline Advisers boosted its position in shares of Tidewater by 0.7% during the 1st quarter. Rhumbline Advisers now owns 131,534 shares of the oil and gas company's stock worth $5,560,000 after purchasing an additional 943 shares in the last quarter. Presidio Capital Management LLC bought a new stake in Tidewater in the 1st quarter valued at about $226,000. GAMMA Investing LLC raised its stake in Tidewater by 24,310.4% during the 1st quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock worth $4,767,000 after buying an additional 112,314 shares during the period. Finally, CSS LLC IL bought a new position in Tidewater in the fourth quarter worth approximately $547,000. Institutional investors own 95.13% of the company's stock.

Tidewater Stock Up 3.0%

Shares of NYSE TDW traded up $1.25 during mid-day trading on Friday, reaching $43.48. 583,318 shares of the company's stock traded hands, compared to its average volume of 1,091,359. 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 business has a 50-day simple moving average of $38.21 and a 200 day simple moving average of $46.03. The stock has a market cap of $2.15 billion, a P/E ratio of 12.79 and a beta of 1.00. 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 for the quarter, beating 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 business's revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.89 EPS. On average, analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

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

Insider Activity

In other news, Director Robert Robotti bought 10,000 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was bought at an average price of $42.14 per share, for a total transaction of $421,400.00. Following the completion of the acquisition, the director now directly owns 2,219,957 shares in the company, valued at approximately $93,548,987.98. This trade represents a 0.45% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 50,560 shares of company stock worth $2,077,608 over the last 90 days. 8.33% of the stock is currently owned by corporate insiders.

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.