Stifel Financial Corp Acquires 70,193 Shares of Tidewater Inc. (NYSE:TDW)

Stifel Financial Corp grew its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 463.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,348 shares of the oil and gas company's stock after purchasing an additional 70,193 shares during the period. Stifel Financial Corp owned approximately 0.16% of Tidewater worth $4,669,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Tidewater in the fourth quarter valued at $4,347,000. Hodges Capital Management Inc. lifted its holdings 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 valued at $5,288,000 after purchasing an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Tidewater by 23.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock valued at $8,431,000 after purchasing an additional 29,721 shares during the period. Barclays PLC increased its stake in Tidewater by 354.2% in the 3rd 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. Finally, Pacer Advisors Inc. increased its position in shares of Tidewater by 42,719.6% in 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 acquiring an additional 1,390,951 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Up 9.3 %

NYSE TDW traded up $3.53 during trading on Tuesday, reaching $41.54. The company's stock had a trading volume of 612,714 shares, compared to its average volume of 1,082,752. The business has a 50-day moving average price of $38.85 and a 200-day moving average price of $48.71. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $111.42. The stock has a market capitalization of $2.11 billion, a PE ratio of 12.33 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.

Tidewater (NYSE:TDW - Get Free Report) last posted its earnings results on Thursday, May 1st. The oil and gas company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.34. The company had revenue of $333.44 million for the quarter, compared to analyst estimates of $325.90 million. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The business's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. On average, research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Evercore ISI lowered shares of Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.50.

Insiders Place Their Bets

In other Tidewater news, Director Robert Robotti purchased 1,770 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the transaction, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. This trade represents a 0.08 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.33% of the company's stock.

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.