5 High Growth Energy Stocks to Buy

3. Tidewater Inc. (NYSE:TDW)

Latest YoY Quarterly Revenue Growth: 56.06%

Number of Hedge Fund Holders: 39

Established in 1956, Houston, Texas-based Tidewater Inc. (NYSE:TDW) is the owner and operator of one of the world’s largest Offshore Support Vessel (OSV) fleets. Its fleet comprises of more than 200 vessels including Anchor Handling Towing Supply Vessels, Platform Supply Vessels, offshore tugs, specialty vessels, crew boats, and floating storage vessels.

On November 6, Tidewater Inc. (NYSE:TDW) released its financial results for Q3 2023. Its revenues increased by 56% y-o-y to $299 million, while it generated a net income of $26 million. The normalized EPS was recorded at $0.62 for the quarter, which exceeded consensus estimates by -$0.64.

Earlier in July, Tidewater Inc. (NYSE:TDW) announced the closing of its acquisition of 37 platform supply vessels and related assets from Solstad Offshore ASA for a purchase price of $580 million.