Diversified Investment Strategies LLC Buys New Shares in Tidewater Inc. (NYSE:TDW)

Diversified Investment Strategies LLC acquired a new position in Tidewater Inc. (NYSE:TDW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,000 shares of the oil and gas company's stock, valued at approximately $547,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its holdings 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 valued at $76,277,000 after acquiring an additional 1,390,951 shares in the last quarter. Drive Wealth Management LLC bought a new position in Tidewater in the 4th quarter valued at $233,000. Inspire Investing LLC grew its stake in Tidewater by 27.6% in the 4th quarter. Inspire Investing LLC now owns 7,971 shares of the oil and gas company's stock valued at $436,000 after purchasing an additional 1,726 shares during the period. Value Holdings Management CO. LLC purchased a new stake in shares of Tidewater during the 4th quarter valued at $1,778,000. Finally, Alhambra Investment Management LLC bought a new stake in shares of Tidewater during the 4th quarter worth $220,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

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

Tidewater Stock Performance

TDW stock traded down $0.32 during midday trading on Friday, reaching $55.14. 1,001,118 shares of the company's stock traded hands, compared to its average volume of 923,566. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42. The company has a 50-day moving average price of $52.55 and a two-hundred day moving average price of $67.27. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The firm has a market capitalization of $2.89 billion, a PE ratio of 16.22 and a beta of 1.06.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.08. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The company had revenue of $340.36 million for the quarter, compared to analyst estimates of $339.65 million. During the same period in the previous year, the company posted $0.77 EPS. As a group, equities analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Transactions at Tidewater

In other news, CEO Quintin Kneen purchased 41,615 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were purchased at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now owns 176,239 shares in the company, valued at $8,470,046.34. This trade represents a 30.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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.