Capital Wealth Planning LLC Buys New Position in Tidewater Inc. (NYSE:TDW)

Capital Wealth Planning LLC acquired a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,500 shares of the oil and gas company's stock, valued at approximately $301,000.

Several other hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its position in shares of Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after acquiring an additional 1,390,951 shares during the last quarter. Van ECK Associates Corp bought a new position in Tidewater in the 3rd quarter valued at $51,089,000. Cerity Partners LLC increased its position in shares of Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company's stock valued at $43,666,000 after purchasing an additional 385,779 shares during the last quarter. Villere ST Denis J & Co. LLC bought a new stake in shares of Tidewater during the 3rd quarter worth $25,871,000. Finally, Empire Life Investments Inc. raised its stake in shares of Tidewater by 29.6% during the 4th 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. Institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Evercore ISI downgraded shares of Tidewater from an "outperform" rating to an "in-line" rating and decreased their price objective for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Raymond James downgraded Tidewater from a "strong-buy" rating to an "outperform" rating and dropped their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. DNB Markets assumed coverage on Tidewater in a research report on Friday, November 29th. They issued a "buy" rating and a $70.00 target price for the company. Finally, StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Tidewater currently has a consensus rating of "Moderate Buy" and an average target price of $92.50.

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Insider Buying and Selling

In related news, CEO Quintin Kneen purchased 41,615 shares of the firm's stock in a transaction dated Friday, December 13th. The shares were purchased 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 in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.33% of the stock is currently owned by insiders.

Tidewater Stock Performance

Shares of Tidewater stock traded down $1.62 during trading hours on Wednesday, reaching $40.67. The company had a trading volume of 1,953,275 shares, compared to its average volume of 991,850. The firm has a market cap of $2.13 billion, a PE ratio of 11.96 and a beta of 1.04. Tidewater Inc. has a one year low of $38.65 and a one 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 business has a fifty day simple moving average of $53.34 and a 200 day simple moving average of $60.57.

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.