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

Inspire Investing LLC boosted its stake in Tidewater Inc. (NYSE:TDW) by 27.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 7,971 shares of the oil and gas company’s stock after purchasing an additional 1,726 shares during the quarter. Inspire Investing LLC’s holdings in Tidewater were worth $436,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TDW. Amalgamated Bank boosted its holdings in Tidewater by 825.8% in the second quarter. Amalgamated Bank now owns 14,758 shares of the oil and gas company’s stock valued at $1,405,000 after acquiring an additional 13,164 shares in the last quarter. Sei Investments Co. boosted its holdings in Tidewater by 17.1% in the second quarter. Sei Investments Co. now owns 16,377 shares of the oil and gas company’s stock valued at $1,559,000 after acquiring an additional 2,390 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in Tidewater in the second quarter valued at $3,837,000. Evergreen Capital Management LLC bought a new stake in Tidewater in the second quarter valued at $219,000. Finally, Xponance Inc. boosted its holdings in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 279 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Insiders Place Their Bets

In other Tidewater news, CEO Quintin Kneen bought 41,615 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares in the company, valued at $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.33% of the stock is owned by insiders.

Tidewater Price Performance

TDW opened at $55.16 on Friday. The stock has a 50-day moving average price of $52.25 and a 200-day moving average price of $69.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market cap of $2.89 billion, a PE ratio of 16.22 and a beta of 1.06. Tidewater Inc. has a 1 year low of $46.50 and a 1 year high of $111.42.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $340.36 million during the quarter, compared to analyst estimates of $339.65 million. 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 $0.77 EPS. Sell-side analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.