Naviter Wealth LLC Has $9.17 Million Holdings in Tidewater Inc. (NYSE:TDW)

Naviter Wealth LLC lifted its position in Tidewater Inc. (NYSE:TDW - Free Report) by 33.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,665 shares of the oil and gas company's stock after buying an additional 41,615 shares during the period. Tidewater comprises 1.1% of Naviter Wealth LLC's holdings, making the stock its 18th largest position. Naviter Wealth LLC owned 0.32% of Tidewater worth $9,173,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its holdings in shares of 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 in the last quarter. Cerity Partners LLC grew its position in shares of Tidewater by 173.4% in 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 period. Villere ST Denis J & Co. LLC bought a new stake in Tidewater during the 3rd quarter worth approximately $25,871,000. Van ECK Associates Corp raised its holdings in Tidewater by 17.5% during the 4th quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company's stock worth $45,752,000 after buying an additional 124,610 shares during the period. Finally, Empire Life Investments Inc. lifted its stake in Tidewater by 29.6% in the fourth quarter. Empire Life Investments Inc. now owns 380,890 shares of the oil and gas company's stock valued at $20,838,000 after buying an additional 87,006 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

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Insiders Place Their Bets

In related news, Director Robert Robotti bought 1,770 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the purchase, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. This represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Quintin Kneen acquired 41,615 shares of the firm's stock in a transaction on Friday, December 13th. The stock was purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.33% of the company's stock.

Tidewater Stock Down 0.7 %

TDW traded down $0.30 during trading on Wednesday, reaching $40.35. 714,741 shares of the stock were exchanged, compared to its average volume of 997,798. The stock has a market cap of $2.08 billion, a P/E ratio of 11.87 and a beta of 1.06. The stock's 50 day moving average price is $52.25 and its two-hundred day moving average price is $58.96. Tidewater Inc. has a twelve month low of $38.65 and a twelve month high of $111.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TDW shares. Pickering Energy Partners downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI downgraded Tidewater from an "outperform" rating to an "in-line" rating and dropped their price target for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, DNB Markets started coverage on Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Tidewater has a consensus 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.