Marathon Partners Equity Management LLC Buys New Holdings in Tidewater Inc. (NYSE:TDW)

Marathon Partners Equity Management LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,000 shares of the oil and gas company's stock, valued at approximately $1,368,000. Tidewater comprises 1.2% of Marathon Partners Equity Management LLC's portfolio, making the stock its 13th biggest position.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock worth $76,277,000 after acquiring an additional 1,390,951 shares during the period. Norges Bank bought a new stake in Tidewater in the fourth quarter worth $32,388,000. Price T Rowe Associates Inc. MD increased its stake in Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock worth $126,180,000 after purchasing an additional 390,814 shares during the period. Dimensional Fund Advisors LP raised its holdings in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after purchasing an additional 286,097 shares in the last quarter. Finally, Encompass Capital Advisors LLC boosted its position in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after buying an additional 238,170 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TDW. Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Raymond James decreased their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and dropped their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $69.33.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 8.33% of the company's stock.

Tidewater Stock Up 3.3%

Shares of NYSE TDW opened at $42.81 on Tuesday. The company has a 50-day moving average price of $38.59 and a 200-day moving average price of $47.97. 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 Inc. has a 1 year low of $31.17 and a 1 year high of $110.06. The stock has a market capitalization of $2.12 billion, a P/E ratio of 12.59 and a beta of 1.00.

Tidewater (NYSE:TDW - Get Free Report) last issued its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (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%. During the same period in the previous year, the firm earned $0.89 earnings per share. Tidewater's quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities research analysts forecast 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.