Hodges Capital Management Inc. Buys 49,050 Shares of Tidewater Inc. (NYSE:TDW)

Hodges Capital Management Inc. lifted its position in Tidewater Inc. (NYSE:TDW) by 103.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 96,650 shares of the oil and gas company’s stock after buying an additional 49,050 shares during the period. Hodges Capital Management Inc.’s holdings in Tidewater were worth $5,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new stake in shares of Tidewater during the 2nd quarter valued at about $27,000. Fortitude Family Office LLC bought a new position in shares of Tidewater during the 4th quarter valued at approximately $33,000. GAMMA Investing LLC raised its position in shares of Tidewater by 163.5% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 435 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in shares of Tidewater in the third quarter valued at about $65,000. Finally, FNY Investment Advisers LLC bought a new position in Tidewater in the 4th quarter worth approximately $95,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tidewater Price Performance

NYSE:TDW opened at $55.14 on Monday. Tidewater Inc. has a 1-year low of $46.50 and a 1-year high of $111.42. 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 company has a 50 day moving average price of $52.55 and a 200-day moving average price of $67.04. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 16.22 and a beta of 1.04.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. During the same quarter in the prior year, the firm earned $0.77 EPS. Equities research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen purchased 41,615 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 8.33% of the company’s stock.

Tidewater Company Profile

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.