Tidewater Inc. (NYSE:TDW) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 47.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 177,992 shares of the oil and gas company's stock after selling 157,550 shares during the period. Millennium Management LLC owned about 0.34% of Tidewater worth $9,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tidewater by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,757 shares of the oil and gas company's stock worth $1,519,000 after purchasing an additional 1,063 shares in the last quarter. Lloyd Harbor Capital Management LLC acquired a new position in Tidewater during the fourth quarter worth about $6,588,000. J. Goldman & Co LP acquired a new position in Tidewater during the fourth quarter worth about $1,191,000. Gotham Asset Management LLC acquired a new position in Tidewater during the fourth quarter worth about $1,010,000. Finally, Graham Capital Management L.P. acquired a new position in Tidewater during the fourth quarter worth about $211,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti bought 25,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.33% of the company's stock.

Tidewater Trading Up 0.6%

NYSE:TDW traded up $0.23 on Thursday, hitting $41.26. The stock had a trading volume of 100,110 shares, compared to its average volume of 1,133,698. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 12.14 and a beta of 1.00. The company has a fifty day moving average price of $38.49 and a two-hundred day moving average price of $46.51. 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 posted its 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%. During the same period last year, the business posted $0.89 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. Equities research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their price target 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 analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.