Ameriprise Financial Inc. Buys 101,159 Shares of Tidewater Inc. (NYSE:TDW)

Ameriprise Financial Inc. lifted its holdings in Tidewater Inc. (NYSE:TDW) by 13.2% in the 4th quarter, Holdings Channel reports. The firm owned 867,875 shares of the oil and gas company’s stock after acquiring an additional 101,159 shares during the period. Ameriprise Financial Inc.’s holdings in Tidewater were worth $47,473,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. AlphaQuest LLC raised its stake in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Tidewater in the fourth quarter worth $53,000. EverSource Wealth Advisors LLC raised its stake in shares of Tidewater by 45.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 333 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Tidewater by 2,018.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Tidewater by 336.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

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

Tidewater Stock Performance

NYSE:TDW opened at $41.44 on Monday. The stock has a 50-day simple moving average of $38.55 and a two-hundred day simple moving average of $48.09. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $110.06. 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 capitalization of $2.11 billion, a PE ratio of 12.19 and a beta of 1.00.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now directly owns 2,208,670 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 8.33% of the stock is currently owned by corporate 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.