Loomis Sayles & Co. L P reduced its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,887 shares of the oil and gas company's stock after selling 34,943 shares during the period. Loomis Sayles & Co. L P owned 0.73% of Tidewater worth $21,002,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in Tidewater by 42,719.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock worth $76,277,000 after acquiring an additional 1,390,951 shares during the period. Villere ST Denis J & Co. LLC lifted its position in shares of Tidewater by 35.1% during 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. Thompson Siegel & Walmsley LLC raised its holdings in shares of Tidewater by 135.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 219,183 shares of the oil and gas company's stock valued at $11,992,000 after acquiring an additional 126,162 shares in the last quarter. Van ECK Associates Corp lifted its position in 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 valued at $45,752,000 after purchasing an additional 124,610 shares during the last quarter. Finally, Sagil Capital LLP purchased a new stake in shares of Tidewater during the 4th quarter valued at $6,565,000. 95.13% of the stock is owned by institutional investors.
Tidewater Stock Up 1.5 %
TDW stock traded up $0.66 during trading on Wednesday, hitting $43.62. 195,295 shares of the stock traded hands, compared to its average volume of 1,032,576. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 12.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a 1 year low of $38.65 and a 1 year high of $111.42. The firm's 50 day moving average is $48.22 and its two-hundred day moving average is $54.97.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Evercore ISI cut 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 downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $92.50.
Read Our Latest Stock Report on Tidewater
Insider Buying and Selling
In other Tidewater news, Director Robert Robotti purchased 1,770 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $40.95 per share, with a total value of $72,481.50. Following the completion of the purchase, the director now directly owns 2,183,670 shares in the company, valued at $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.33% of the stock is currently owned by corporate insiders.
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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