Diversified Investment Strategies LLC Acquires Shares of 10,000 Tidewater Inc. (NYSE:TDW)

Diversified Investment Strategies LLC bought a new position in Tidewater Inc. (NYSE:TDW) during the 4th quarter, Holdings Channel.com reports. The fund bought 10,000 shares of the oil and gas company’s stock, valued at approximately $547,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP purchased a new stake in Tidewater in the 2nd quarter worth $27,000. Fortitude Family Office LLC purchased a new stake in shares of Tidewater in the fourth quarter worth about $33,000. GAMMA Investing LLC boosted its stake in Tidewater by 163.5% during the third quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after buying an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Tidewater during the 3rd quarter valued at approximately $65,000. Finally, FNY Investment Advisers LLC purchased a new position in Tidewater during the 4th quarter valued at approximately $95,000. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the subject of a number of recent research reports. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and dropped their price target for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Finally, DNB Markets started coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.60.

Insider Activity at Tidewater

In related news, CEO Quintin Kneen acquired 41,615 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This represents a 30.91 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.33% of the stock is owned by company insiders.

Tidewater Price Performance

Tidewater stock opened at $52.87 on Wednesday. The firm has a market capitalization of $2.77 billion, a PE ratio of 15.69 and a beta of 1.06. Tidewater Inc. has a 12-month low of $46.50 and a 12-month high of $111.42. The firm has a 50-day moving average price of $52.39 and a 200-day moving average price of $68.08. 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) last announced its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same quarter last year, the firm earned $0.77 earnings per share. As a group, equities research analysts forecast that Tidewater Inc. will post 3.25 EPS 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.