Silvercrest Asset Management Group LLC Increases Stake in Tidewater Inc. (NYSE:TDW)

Silvercrest Asset Management Group LLC increased its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 531,981 shares of the oil and gas company's stock after buying an additional 70,194 shares during the period. Silvercrest Asset Management Group LLC owned about 1.02% of Tidewater worth $29,105,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. ProShare Advisors LLC increased its position in shares of Tidewater by 44.5% in the 4th quarter. ProShare Advisors LLC now owns 14,688 shares of the oil and gas company's stock valued at $804,000 after purchasing an additional 4,522 shares during the last quarter. Progeny 3 Inc. increased its holdings in Tidewater by 13.3% in the fourth quarter. Progeny 3 Inc. now owns 344,639 shares of the oil and gas company's stock valued at $18,855,000 after buying an additional 40,400 shares during the last quarter. Man Group plc acquired a new stake in Tidewater in the fourth quarter valued at $2,162,000. Marathon Partners Equity Management LLC acquired a new stake in Tidewater in the fourth quarter valued at $1,368,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Tidewater by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,757 shares of the oil and gas company's stock worth $1,519,000 after buying an additional 1,063 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James dropped their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $69.33.

Tidewater Stock Up 1.1%

Shares of Tidewater stock traded up $0.43 during trading hours on Tuesday, hitting $41.01. The company had a trading volume of 540,595 shares, compared to its average volume of 1,091,392. The company's 50-day moving average is $38.67 and its two-hundred day moving average is $47.33. Tidewater Inc. has a twelve month low of $31.17 and a twelve month 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. The company has a market cap of $2.03 billion, a P/E ratio of 12.06 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, 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 revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Insider Activity

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction 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 trade represents a 1.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.