Rhumbline Advisers Increases Stock Position in Tidewater Inc. (NYSE:TDW)

Rhumbline Advisers boosted its stake in Tidewater Inc. (NYSE:TDW) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,534 shares of the oil and gas company’s stock after purchasing an additional 943 shares during the quarter. Rhumbline Advisers owned about 0.26% of Tidewater worth $5,560,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Presidio Capital Management LLC bought a new position in shares of Tidewater in the 1st quarter valued at about $226,000. GAMMA Investing LLC lifted its holdings in shares of Tidewater by 24,310.4% in the 1st quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company’s stock valued at $4,767,000 after acquiring an additional 112,314 shares during the last quarter. CSS LLC IL bought a new position in shares of Tidewater in the 4th quarter valued at about $547,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Tidewater by 8.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company’s stock valued at $2,347,000 after acquiring an additional 3,325 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its holdings in shares of Tidewater by 110.7% in the 4th quarter. Voloridge Investment Management LLC now owns 340,103 shares of the oil and gas company’s stock valued at $18,607,000 after acquiring an additional 178,650 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Raymond James lowered 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $69.33.

Insiders Place Their Bets

In related news, Director Robert Robotti bought 10,000 shares of Tidewater stock in a transaction dated Tuesday, June 3rd. The shares were acquired at an average cost of $42.14 per share, with a total value of $421,400.00. Following the completion of the transaction, the director now owns 2,219,957 shares in the company, valued at $93,548,987.98. The trade was a 0.45% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 25,560 shares of company stock valued at $1,074,858 over the last 90 days. Insiders own 8.33% of the company’s stock.

Tidewater Stock Up 0.1%

Shares of NYSE TDW opened at $48.17 on Friday. 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 $2.38 billion, a P/E ratio of 14.17 and a beta of 1.07. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $108.44. The firm has a 50-day simple moving average of $38.99 and a two-hundred day simple moving average of $45.85.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping 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 company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. Research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

About Tidewater

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.