MetLife Investment Advisors LLC Raises Stake in Tidewater Inc. (NYSE:TDW)

MetLife Investment Advisors LLC increased its stake in shares of Tidewater Inc. (NYSE:TDW) by 18.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,353 shares of the oil and gas company’s stock after buying an additional 2,053 shares during the period. MetLife Investment Advisors LLC’s holdings in Tidewater were worth $310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in Tidewater by 64.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,790 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 1,096 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in Tidewater by 110.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,542 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 2,380 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Tidewater by 39.2% in the 4th quarter. Legal & General Group Plc now owns 5,056 shares of the oil and gas company’s stock worth $97,000 after acquiring an additional 1,424 shares during the last quarter. QS Investors LLC lifted its holdings in shares of Tidewater by 23,181.8% in the 4th quarter. QS Investors LLC now owns 5,122 shares of the oil and gas company’s stock worth $98,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in shares of Tidewater by 378.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 8,366 shares of the oil and gas company’s stock worth $160,000 after acquiring an additional 6,618 shares during the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.

In other Tidewater news, Director Kenneth H. Traub bought 5,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average cost of $23.14 per share, for a total transaction of $115,700.00. Following the completion of the transaction, the director now owns 22,088 shares in the company, valued at $511,116.32. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John T. Rynd bought 2,500 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were acquired at an average price of $23.30 per share, with a total value of $58,250.00. Following the completion of the transaction, the chief executive officer now owns 90,774 shares of the company’s stock, valued at approximately $2,115,034.20. The disclosure for this purchase can be found here. Insiders purchased a total of 19,400 shares of company stock valued at $456,995 over the last three months. 0.47% of the stock is currently owned by insiders.

Tidewater stock traded down $0.39 during mid-day trading on Thursday, reaching $21.38. The stock had a trading volume of 107,600 shares, compared to its average volume of 192,170. The firm has a market cap of $851.57 million, a P/E ratio of -3.31 and a beta of 1.41. The company’s 50-day moving average price is $22.42. Tidewater Inc. has a one year low of $18.36 and a one year high of $36.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.32 and a quick ratio of 4.13.

Tidewater (NYSE:TDW) last posted its earnings results on Monday, May 6th. The oil and gas company reported ($0.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.89) by $0.40. Tidewater had a negative net margin of 35.24% and a negative return on equity of 12.15%. The business had revenue of $122.10 million for the quarter, compared to analysts’ expectations of $115.50 million. During the same quarter in the prior year, the business earned ($0.76) EPS. The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, analysts forecast that Tidewater Inc. will post -2.87 EPS for the current year.

A number of research firms recently commented on TDW. TheStreet upgraded shares of Third Point Reinsurance from a “d+” rating to a “c-” rating in a report on Tuesday, May 14th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st.

Tidewater Profile

Tidewater Inc provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore exploration, field development, and production, 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; and various specialized services, such as pipe and cable laying.

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Institutional Ownership by Quarter for Tidewater (NYSE:TDW)

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