Northern Trust Corp Purchases 28,859 Shares of Tidewater Inc. (NYSE:TDW)

Northern Trust Corp increased its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Other hedge funds have also bought and sold shares of the company. AlphaQuest LLC raised its stake in Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after buying an additional 511 shares during the last quarter. Headlands Technologies LLC bought a new position in Tidewater during the fourth quarter worth $53,000. EverSource Wealth Advisors LLC raised its stake in Tidewater by 45.5% during the fourth 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. Venturi Wealth Management LLC raised its stake in Tidewater by 2,018.3% during the fourth 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 during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Tidewater by 336.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock worth $87,000 after buying an additional 1,224 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Tidewater Stock Up 0.8%

Shares of NYSE TDW opened at $41.44 on Monday. The stock has a market capitalization of $2.11 billion, a P/E ratio of 12.19 and a beta of 1.00. The company has a 50-day moving average price of $38.55 and a 200-day moving average price of $48.09. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $110.06. 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 issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the company earned $0.89 earnings per share. On average, equities research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the transaction, the director now directly 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 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Raymond James reduced their price target 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. Finally, Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Tidewater presently has an average rating of "Hold" and a consensus target price of $69.33.

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.

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