Bank of New York Mellon Corp reduced its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 385,084 shares of the oil and gas company's stock after selling 14,338 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.74% of Tidewater worth $21,068,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of TDW. Pacer Advisors Inc. grew its stake in shares of Tidewater by 42,719.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock worth $76,277,000 after purchasing an additional 1,390,951 shares during the last quarter. Cerity Partners LLC increased its position in shares of Tidewater by 173.4% in the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company's stock worth $43,666,000 after acquiring an additional 385,779 shares in the last quarter. Villere ST Denis J & Co. LLC increased its position in shares of Tidewater by 35.1% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company's stock worth $26,633,000 after acquiring an additional 126,441 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Tidewater by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company's stock worth $45,752,000 after purchasing an additional 124,610 shares during the period. Finally, Empire Life Investments Inc. boosted its holdings in shares of Tidewater by 29.6% during the fourth quarter. Empire Life Investments Inc. now owns 380,890 shares of the oil and gas company's stock worth $20,838,000 after purchasing an additional 87,006 shares during the period. 95.13% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on TDW. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and reduced their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, DNB Markets began coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a "buy" rating and a $70.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $92.50.
Check Out Our Latest Stock Report on TDW
Tidewater Stock Performance
Shares of NYSE:TDW traded up $0.53 during trading on Friday, reaching $40.46. The stock had a trading volume of 1,788,905 shares, compared to its average volume of 1,001,354. Tidewater Inc. has a 52 week low of $38.65 and a 52 week high of $111.42. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.90 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $51.64 and a two-hundred day simple moving average of $58.70.
Insider Activity
In related news, Director Robert Robotti bought 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.33% of the company's stock.
About Tidewater
(
Free Report)
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.
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