Emerald Advisers LLC Reduces Holdings in Tidewater Inc. (NYSE:TDW)

Emerald Advisers LLC cut its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 254,124 shares of the oil and gas company's stock after selling 10,913 shares during the period. Emerald Advisers LLC owned 0.49% of Tidewater worth $13,903,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of TDW. Fortitude Family Office LLC acquired a new stake in Tidewater during the 4th quarter worth approximately $33,000. AlphaQuest LLC boosted its holdings in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 511 shares in the last quarter. Quarry LP increased its stake in shares of Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company's stock worth $58,000 after acquiring an additional 531 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Tidewater during the third quarter worth about $65,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after purchasing an additional 333 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Price Performance

TDW stock traded down $0.32 during midday trading on Thursday, hitting $44.17. 591,392 shares of the stock were exchanged, compared to its average volume of 1,013,618. The stock's 50-day moving average price is $49.00 and its 200-day moving average price is $55.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 12.99 and a beta of 1.06. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42.

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Analysts Set New Price Targets

Several research firms have issued reports on TDW. Evercore ISI cut Tidewater from an "outperform" rating to an "in-line" rating and dropped their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. DNB Markets initiated coverage on Tidewater in a report on Friday, November 29th. They set a "buy" rating and a $70.00 price objective on the stock. Finally, Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of "Moderate Buy" and a consensus target price of $92.50.

Insider Buying and Selling

In related news, Director Robert Robotti acquired 25,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the transaction, the director now directly owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their position. 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.

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.