FORA Capital LLC Makes New Investment in Tidewater Inc. (NYSE:TDW)

FORA Capital LLC purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,851 shares of the oil and gas company's stock, valued at approximately $977,000.

A number of other institutional investors have also recently modified their holdings of TDW. Fortitude Family Office LLC purchased a new position in Tidewater in the 4th quarter valued at approximately $33,000. AlphaQuest LLC increased its position in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after buying an additional 511 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Tidewater during the 4th quarter worth $53,000. EverSource Wealth Advisors LLC raised 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 buying an additional 333 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Tidewater by 2,018.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after buying an additional 1,211 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and cut their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Raymond James cut their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Tidewater currently has an average rating of "Hold" and an average price target of $69.33.

Insider Activity

In related news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This trade represents a 1.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.33% of the company's stock.

Tidewater Trading Down 2.2%

NYSE:TDW traded down $0.93 on Thursday, reaching $41.62. The stock had a trading volume of 320,651 shares, compared to its average volume of 1,087,826. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $110.06. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 12.26 and a beta of 1.00. The firm's fifty day moving average is $38.61 and its two-hundred day moving average is $47.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

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