Graham Capital Management L.P. Purchases Shares of 3,855 Tidewater Inc. (NYSE:TDW)

Graham Capital Management L.P. purchased a new stake in Tidewater Inc. (NYSE:TDW) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 3,855 shares of the oil and gas company’s stock, valued at approximately $211,000.

Several other large investors have also recently added to or reduced their stakes in TDW. Pacer Advisors Inc. raised its holdings in shares of Tidewater by 42,719.6% in 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 buying an additional 1,390,951 shares in the last quarter. Norges Bank acquired a new stake in shares of Tidewater in the 4th quarter valued at $32,388,000. Price T Rowe Associates Inc. MD increased its stake in shares of Tidewater by 20.4% in the 4th 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 buying an additional 390,814 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Tidewater by 22.6% in the 4th 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 buying an additional 286,097 shares during the period. Finally, Encompass Capital Advisors LLC increased its stake in shares of Tidewater by 17.7% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock valued at $86,569,000 after buying an additional 238,170 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Raymond James lowered their target price on Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.33.

Insider Buying and Selling

In other news, Director Robert Robotti purchased 1,770 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the acquisition, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is owned by insiders.

Tidewater Stock Down 0.1%

Shares of Tidewater stock opened at $41.86 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.29 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 $110.06. The business has a fifty day simple moving average of $38.67 and a 200 day simple moving average of $47.46. The stock has a market cap of $2.07 billion, a PE ratio of 12.31 and a beta of 1.00.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping 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%. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 3.8% compared to the same quarter last year. Research analysts predict that Tidewater Inc. will post 3.25 EPS for the current year.

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.