Northern Trust Corp Buys 28,859 Shares of Tidewater Inc. (NYSE:TDW)

Northern Trust Corp raised its stake in Tidewater Inc. (NYSE:TDW) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 495,350 shares of the oil and gas company’s stock after acquiring an additional 28,859 shares during the quarter. Northern Trust Corp’s holdings in Tidewater were worth $27,101,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Tidewater by 1.0% in 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 acquiring an additional 56,919 shares during the last quarter. Robotti Robert boosted its stake 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 valued at $144,050,000 after acquiring an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 last quarter. Dimensional Fund Advisors LP boosted its stake 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 valued at $84,888,000 after acquiring an additional 286,097 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its stake in 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 during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

NYSE TDW opened at $41.44 on Monday. The company’s 50 day moving average is $38.55 and its 200-day moving average is $48.09. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $110.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a market cap of $2.11 billion, a P/E ratio of 12.19 and a beta of 1.00.

Tidewater (NYSE:TDW) last posted its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. Sell-side analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

TDW has been the topic of a number of research analyst reports. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Raymond James dropped their target price on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Finally, Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $69.33.

Insider Buying and Selling

In other news, Director Robert Robotti bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the acquisition, the director now owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. The trade was a 1.14% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.33% of the stock is currently owned by insiders.

About Tidewater

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.