Harbour Capital Advisors LLC Invests $704,000 in Tidewater Inc. (NYSE:TDW)

Harbour Capital Advisors LLC acquired a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,470 shares of the oil and gas company's stock, valued at approximately $704,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Centiva Capital LP purchased a new stake in Tidewater in the third quarter worth approximately $958,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Tidewater in the 2nd quarter worth approximately $1,241,000. Raymond James & Associates boosted its stake in shares of Tidewater by 11.9% in the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company's stock valued at $6,725,000 after purchasing an additional 9,952 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Tidewater by 75.2% during the 3rd quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company's stock valued at $4,193,000 after purchasing an additional 25,064 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Tidewater by 23.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock worth $8,431,000 after purchasing an additional 29,721 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insiders Place Their Bets

In related news, CEO Quintin Kneen acquired 41,615 shares of the firm's stock in a transaction on Friday, December 13th. The stock was acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the acquisition, the chief executive officer now owns 176,239 shares of the company's stock, valued at $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.33% of the company's stock.

Tidewater Trading Down 0.8 %

Shares of NYSE:TDW traded down $0.46 during midday trading on Monday, hitting $55.00. 1,177,759 shares of the stock traded hands, compared to its average volume of 1,098,566. 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 market capitalization of $2.88 billion, a PE ratio of 16.18 and a beta of 1.06. Tidewater Inc. has a one year low of $46.50 and a one year high of $111.42. The business's 50 day moving average is $52.60 and its two-hundred day moving average is $71.42.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TDW shares. DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price target for the company. StockNews.com raised Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Raymond James lowered Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.80.

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.