Lloyd Harbor Capital Management LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 120,414 shares of the oil and gas company's stock, valued at approximately $6,588,000. Tidewater accounts for about 4.3% of Lloyd Harbor Capital Management LLC's investment portfolio, making the stock its 10th largest position. Lloyd Harbor Capital Management LLC owned about 0.23% of Tidewater as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Tidewater during the fourth quarter worth about $4,347,000. Hodges Capital Management Inc. increased its stake in shares of Tidewater by 103.0% during the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after purchasing an additional 49,050 shares in the last quarter. Barclays PLC increased its stake 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 in the last quarter. Pacer Advisors Inc. increased its stake in shares of Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock worth $76,277,000 after purchasing an additional 1,390,951 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Tidewater during the fourth quarter worth about $704,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.
Tidewater Trading Down 0.1%
Shares of Tidewater stock traded down $0.06 during mid-day trading on Friday, hitting $41.86. The stock had a trading volume of 616,854 shares, compared to its average volume of 1,092,751. The firm has a 50-day moving average of $38.67 and a two-hundred day moving average of $47.55. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $110.06. 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 firm has a market cap of $2.07 billion, a P/E ratio of 12.31 and a beta of 1.00.
Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly 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 in the previous year, the business posted $0.89 earnings per share. The business's quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.
Insider Activity
In other news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average price 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 position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 8.33% of the company's stock.
Wall Street Analyst Weigh In
Separately, Raymond James cut their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $69.33.
Read Our Latest Stock Analysis on TDW
Tidewater Company Profile
(
Free Report)
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.
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