Wellington Management Group LLP Has $16.22 Million Holdings in Tidewater Inc. (NYSE:TDW)

Wellington Management Group LLP trimmed its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 31.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 296,513 shares of the oil and gas company's stock after selling 136,139 shares during the period. Wellington Management Group LLP owned about 0.58% of Tidewater worth $16,222,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Barclays PLC grew its holdings in shares of Tidewater by 354.2% during the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock worth $5,661,000 after purchasing an additional 61,487 shares during the last quarter. Spire Wealth Management grew its position in shares of Tidewater by 79.7% in the 4th quarter. Spire Wealth Management now owns 3,485 shares of the oil and gas company's stock valued at $191,000 after purchasing an additional 1,546 shares during the period. Hodges Capital Management Inc. grew its position in shares of Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock valued at $5,288,000 after purchasing an additional 49,050 shares during the period. Tectonic Advisors LLC boosted its holdings in shares of Tidewater by 2.3% in the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock valued at $961,000 after buying an additional 402 shares during the last quarter. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Tidewater in the 4th quarter valued at approximately $368,000. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Tidewater Stock Performance

TDW traded up $0.06 during trading hours on Thursday, reaching $42.16. The company's stock had a trading volume of 776,541 shares, compared to its average volume of 1,093,391. 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 firm has a market cap of $2.09 billion, a PE ratio of 12.40 and a beta of 1.00. The company's 50-day moving average is $38.21 and its 200-day moving average is $46.03. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping 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 revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Transactions at Tidewater

In related news, Director Robert Robotti bought 15,000 shares of Tidewater stock in a transaction dated Wednesday, June 4th. The shares were bought at an average cost of $42.05 per share, with a total value of $630,750.00. Following the acquisition, the director now owns 2,234,957 shares in the company, valued at $93,979,941.85. This trade represents a 0.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last three months, insiders have purchased 50,560 shares of company stock valued at $2,077,608. 8.33% of the stock is owned by corporate insiders.

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.