Empire Life Investments Inc. Grows Position in Tidewater Inc. (NYSE:TDW)

Empire Life Investments Inc. increased its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 29.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 380,890 shares of the oil and gas company's stock after buying an additional 87,006 shares during the quarter. Tidewater comprises approximately 1.3% of Empire Life Investments Inc.'s holdings, making the stock its 26th largest holding. Empire Life Investments Inc. owned approximately 0.73% of Tidewater worth $20,838,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TDW. Fortitude Family Office LLC bought a new stake in shares of Tidewater during the fourth quarter worth $33,000. GAMMA Investing LLC lifted its position in shares of Tidewater by 163.5% during the third quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 435 shares during the last quarter. Quarry LP lifted its position 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 purchasing an additional 531 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in shares of Tidewater during the third quarter worth $65,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Tidewater in the fourth quarter valued at about $95,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Trading Down 4.4 %

NYSE:TDW traded down $2.42 during trading hours on Wednesday, hitting $52.84. The company had a trading volume of 746,314 shares, compared to its average volume of 933,691. The company has a market cap of $2.76 billion, a P/E ratio of 15.54 and a beta of 1.04. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 1 year low of $46.50 and a 1 year high of $111.42. The company has a 50-day moving average of $53.70 and a 200 day moving average of $63.21.

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen purchased 41,615 shares of Tidewater stock in a transaction on Friday, December 13th. The shares were bought at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares of the company's stock, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.33% of the company's stock.

Analyst Ratings Changes

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

Tidewater Company Profile

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.