Norges Bank Buys Shares of 592,000 Tidewater Inc. (NYSE:TDW)

Norges Bank bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 592,000 shares of the oil and gas company's stock, valued at approximately $32,388,000. Norges Bank owned about 1.13% of Tidewater at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TDW. Pacer Advisors Inc. raised its stake in Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company's stock valued at $76,277,000 after buying an additional 1,390,951 shares during the last quarter. Villere ST Denis J & Co. LLC increased its stake in shares of Tidewater by 35.1% in the 4th 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 purchasing an additional 126,441 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake 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 worth $11,992,000 after purchasing an additional 126,162 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Tidewater by 17.5% in 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 purchasing an additional 124,610 shares in the last quarter. Finally, Sagil Capital LLP purchased a new stake in shares of Tidewater in the 4th quarter worth $6,565,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have recently commented on TDW shares. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and reduced their price objective for the stock from $112.00 to $68.00 in a research note 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Tidewater currently has a consensus rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Trading Down 4.7 %

Shares of NYSE:TDW traded down $1.74 during trading on Thursday, reaching $34.92. The company's stock had a trading volume of 233,074 shares, compared to its average volume of 1,056,708. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $1.80 billion, a PE ratio of 10.27 and a beta of 0.70. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $111.42. The firm's 50 day simple moving average is $45.25 and its two-hundred day simple moving average is $53.10.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the acquisition, the director now directly owns 2,208,670 shares in the company, valued at $88,589,753.70. This represents a 1.14 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.33% of the company's stock.

Tidewater 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.