First Manhattan CO. LLC. Takes $2.85 Million Position in Tidewater Inc. (NYSE:TDW)

First Manhattan CO. LLC. purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 52,150 shares of the oil and gas company's stock, valued at approximately $2,853,000. First Manhattan CO. LLC. owned 0.10% of Tidewater at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Tidal Investments LLC increased its stake in Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock valued at $257,000 after buying an additional 267 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after purchasing an additional 333 shares during the last quarter. Tectonic Advisors LLC increased its stake in shares of Tidewater by 2.3% during the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock worth $961,000 after purchasing an additional 402 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Tidewater by 9.5% during the 4th quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock worth $291,000 after purchasing an additional 463 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Tidewater by 13.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock worth $227,000 after purchasing an additional 479 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tidewater Price Performance

TDW stock traded up $0.02 during trading on Friday, hitting $41.94. 224,246 shares of the stock traded hands, compared to its average volume of 1,087,274. Tidewater Inc. has a one year low of $31.17 and a one year high of $110.06. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 12.34 and a beta of 1.00. The company has a 50 day simple moving average of $38.64 and a 200 day simple moving average of $47.76. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

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, 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 firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. Equities analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Transactions at Tidewater

In other news, Director Robert Robotti acquired 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the acquisition, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. This trade represents a 1.14% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.