Millennium Management LLC Lowers Holdings in Tidewater Inc. (NYSE:TDW)

Millennium Management LLC decreased its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 47.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 177,992 shares of the oil and gas company's stock after selling 157,550 shares during the quarter. Millennium Management LLC owned about 0.34% of Tidewater worth $9,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Tidewater by 4.0% in the 4th 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 during the period. Lloyd Harbor Capital Management LLC purchased a new position in shares of Tidewater in the 4th quarter worth approximately $6,588,000. J. Goldman & Co LP purchased a new position in shares of Tidewater in the 4th quarter worth approximately $1,191,000. Gotham Asset Management LLC purchased a new position in shares of Tidewater in the 4th quarter worth approximately $1,010,000. Finally, Graham Capital Management L.P. purchased a new position in shares of Tidewater in the 4th quarter worth approximately $211,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti bought 25,000 shares of the 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 acquisition, the director now owns 2,208,670 shares of the company's stock, valued at $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 Securities & Exchange Commission, which can be accessed through this link. 8.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Tidewater Trading Up 4.9%

Tidewater stock traded up $1.94 during mid-day trading on Tuesday, hitting $41.40. The company's stock had a trading volume of 1,123,667 shares, compared to its average volume of 1,093,088. The company has a 50 day moving average of $38.54 and a 200-day moving average of $46.58. The stock has a market cap of $2.05 billion, a PE ratio of 12.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a one year low of $31.17 and a one year high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 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%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, research analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current 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.