Northern Trust Corp Boosts Holdings in Tidewater Inc. (NYSE:TDW)

Northern Trust Corp increased its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 495,350 shares of the oil and gas company's stock after buying an additional 28,859 shares during the period. Northern Trust Corp owned 0.95% of Tidewater worth $27,101,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TDW. Raymond James Financial Inc. bought a new stake in Tidewater during the fourth quarter worth about $4,347,000. Hodges Capital Management Inc. grew its stake 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 worth $5,288,000 after buying an additional 49,050 shares during the last quarter. Barclays PLC increased its position in Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after buying an additional 61,487 shares in the last quarter. Pacer Advisors Inc. raised its stake in 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 valued at $76,277,000 after buying an additional 1,390,951 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Tidewater in the fourth quarter worth $704,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

TDW stock traded down $0.27 on Friday, hitting $41.66. The company had a trading volume of 146,101 shares, compared to its average volume of 1,174,107. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 12.25 and a beta of 1.00. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock's 50-day simple moving average is $38.64 and its 200 day simple moving average is $47.76. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $110.06.

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

Wall Street Analyst Weigh In

Separately, 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 report on Wednesday, May 7th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Tidewater currently has an average rating of "Hold" and an average price target of $69.33.

Insiders Place Their Bets

In other news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now directly owns 2,208,670 shares in the company, valued at $88,589,753.70. This trade represents a 1.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.33% of the company's stock.

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.