Rhumbline Advisers Raises Holdings in Tidewater Inc. (NYSE:TDW)

Rhumbline Advisers boosted its holdings in shares of Tidewater Inc. (NYSE:TDW) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 131,534 shares of the oil and gas company’s stock after acquiring an additional 943 shares during the quarter. Rhumbline Advisers’ holdings in Tidewater were worth $5,560,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Tidewater by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock valued at $300,155,000 after buying an additional 56,919 shares during the period. Robotti Robert grew its holdings in Tidewater by 1.1% in the fourth quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock worth $144,050,000 after purchasing an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after purchasing an additional 390,814 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after purchasing an additional 238,170 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after purchasing an additional 286,097 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tidewater

In related news, Director Robert Robotti acquired 15,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the purchase, the director now owns 2,234,957 shares of the company’s stock, valued at approximately $93,979,941.85. This represents a 0.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 25,560 shares of company stock worth $1,074,858. Company insiders own 8.33% of the company’s stock.

Tidewater Price Performance

NYSE TDW opened at $48.17 on Friday. The firm’s fifty day simple moving average is $38.99 and its two-hundred day simple moving average is $45.85. 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 Inc. has a 12-month low of $31.17 and a 12-month high of $108.44. The firm has a market capitalization of $2.38 billion, a P/E ratio of 14.17 and a beta of 1.07.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 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%. During the same quarter in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Raymond James cut their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Tidewater has a consensus rating of “Hold” and a consensus target price of $69.33.

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.