FORA Capital LLC Invests $977,000 in Tidewater Inc. (NYSE:TDW)

FORA Capital LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 17,851 shares of the oil and gas company’s stock, valued at approximately $977,000.

Several other institutional investors and hedge funds have also bought and sold shares of TDW. Pacer Advisors Inc. boosted its position in shares of Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after purchasing an additional 1,390,951 shares in the last quarter. Norges Bank bought a new position in Tidewater in the fourth quarter worth approximately $32,388,000. Price T Rowe Associates Inc. MD grew its stake 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 valued at $126,180,000 after acquiring an additional 390,814 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Tidewater by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock valued at $84,888,000 after acquiring an additional 286,097 shares in the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Tidewater during the fourth quarter worth approximately $12,574,000. 95.13% of the stock is owned by institutional investors.

Tidewater Trading Up 0.8 %

NYSE:TDW opened at $41.44 on Friday. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $110.06. The firm has a 50-day moving average price of $38.55 and a two-hundred day moving average price of $48.28. 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 cap of $2.11 billion, a price-to-earnings ratio of 12.19 and a beta of 1.00.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, equities analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Robotti acquired 1,770 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $40.95 per share, with a total value of $72,481.50. Following the completion of the transaction, the director now owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. The trade was a 0.08 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 8.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James reduced their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.50.

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.