Tidewater Inc. (NYSE:TDW) Shares Purchased by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC grew its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 17.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,582,328 shares of the oil and gas company's stock after acquiring an additional 238,170 shares during the quarter. Tidewater comprises approximately 3.3% of Encompass Capital Advisors LLC's holdings, making the stock its 3rd largest position. Encompass Capital Advisors LLC owned approximately 3.02% of Tidewater worth $86,569,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC acquired a new position in Tidewater in the 4th quarter worth about $33,000. AlphaQuest LLC boosted its stake in shares of Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after acquiring an additional 511 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Tidewater during the 4th quarter worth about $53,000. EverSource Wealth Advisors LLC boosted its stake in shares of Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after acquiring an additional 333 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Tidewater by 2,018.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after acquiring an additional 1,211 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Tidewater Price Performance

Tidewater stock traded up $0.22 during mid-day trading on Wednesday, hitting $42.67. 406,432 shares of the company were exchanged, compared to its average volume of 1,088,404. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The business has a fifty day moving average of $38.62 and a 200 day moving average of $47.93. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $110.06. The company has a market capitalization of $2.11 billion, a PE ratio of 12.55 and a beta of 1.00.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same quarter in the previous year, the business posted $0.89 earnings per share. Tidewater's revenue was up 3.8% on a year-over-year basis. As a group, sell-side analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current year.

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.