Hodges Capital Management Inc. Acquires 49,050 Shares of Tidewater Inc. (NYSE:TDW)

Hodges Capital Management Inc. raised its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 103.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,650 shares of the oil and gas company's stock after purchasing an additional 49,050 shares during the period. Hodges Capital Management Inc. owned 0.18% of Tidewater worth $5,288,000 as of its most recent SEC filing.

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

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen bought 41,615 shares of the business's stock in a transaction on 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 purchase, the chief executive officer now 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 legal filing with the SEC, which is available at this hyperlink. 8.33% of the stock is owned by corporate insiders.

Tidewater Price Performance

Shares of Tidewater stock traded down $1.09 during midday trading on Thursday, reaching $53.98. The company had a trading volume of 1,023,801 shares, compared to its average volume of 1,003,987. The stock has a fifty day simple moving average of $52.81 and a 200 day simple moving average of $66.17. Tidewater Inc. has a 1-year low of $46.50 and a 1-year high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 15.88 and a beta of 1.04.

Tidewater (NYSE:TDW - Get Free Report) last released its earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.08. The company had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. 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 company posted $0.77 earnings per share. As a group, equities research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Raymond James lowered Tidewater from a "strong-buy" rating to an "outperform" rating and cut their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. 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. Evercore ISI downgraded Tidewater from an "outperform" rating to an "in-line" rating and cut their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $91.60.

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.