Inspire Investing LLC Buys 1,726 Shares of Tidewater Inc. (NYSE:TDW)

Inspire Investing LLC boosted its stake in shares of Tidewater Inc. (NYSE:TDW) by 27.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,971 shares of the oil and gas company’s stock after buying an additional 1,726 shares during the quarter. Inspire Investing LLC’s holdings in Tidewater were worth $436,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new position in Tidewater during the second quarter valued at about $27,000. Fortitude Family Office LLC bought a new position in Tidewater during the fourth quarter worth about $33,000. GAMMA Investing LLC boosted its position in Tidewater by 163.5% during the third 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 position in Tidewater during the third quarter worth about $65,000. Finally, FNY Investment Advisers LLC bought a new position in Tidewater during the fourth quarter worth about $95,000. Institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. DNB Markets began coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.60.

Insider Activity at Tidewater

In related news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost 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 directly owns 176,239 shares of the company’s stock, 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. 8.33% of the stock is currently owned by insiders.

Tidewater Price Performance

TDW stock opened at $55.16 on Friday. The firm has a 50 day moving average of $52.25 and a 200-day moving average of $69.03. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 12 month low of $46.50 and a 12 month high of $111.42. The firm has a market capitalization of $2.89 billion, a P/E ratio of 16.22 and a beta of 1.06.

Tidewater (NYSE:TDW) last announced its earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $340.36 million for the quarter, compared to the consensus estimate of $339.65 million. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same period last year, the firm posted $0.77 earnings per share. As a group, sell-side analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal 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.