Old West Investment Management LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 32,040 shares of the oil and gas company's stock, valued at approximately $1,753,000. Old West Investment Management LLC owned about 0.06% of Tidewater as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cynosure Group LLC increased its holdings in Tidewater by 29.2% during the 4th quarter. Cynosure Group LLC now owns 12,429 shares of the oil and gas company's stock worth $680,000 after purchasing an additional 2,812 shares during the period. Bryce Point Capital LLC bought a new stake in Tidewater during the fourth quarter valued at about $1,221,000. Headlands Technologies LLC purchased a new position in shares of Tidewater in the 4th quarter worth approximately $53,000. Diametric Capital LP purchased a new stake in shares of Tidewater during the 4th quarter valued at $331,000. Finally, Meeder Asset Management Inc. acquired a new stake in Tidewater in the fourth quarter worth about $109,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently commented on TDW shares. Pickering Energy Partners downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Evercore ISI downgraded Tidewater from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $92.50.
View Our Latest Stock Analysis on TDW
Insiders Place Their Bets
In related news, Director Robert Robotti purchased 1,770 shares of Tidewater stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the transaction, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 8.33% of the stock is currently owned by company insiders.
Tidewater Price Performance
Shares of TDW stock traded down $2.42 during mid-day trading on Thursday, hitting $34.24. 907,891 shares of the stock were exchanged, compared to its average volume of 1,059,401. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $111.42. 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 company has a market cap of $1.76 billion, a PE ratio of 9.99 and a beta of 0.70. The firm has a fifty day moving average of $45.25 and a 200 day moving average of $53.10.
Tidewater Company Profile
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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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