Philadelphia Trust Co. Sells 7,266 Shares of Tidewater Inc. (NYSE:TDW)

Philadelphia Trust Co. reduced its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,791 shares of the oil and gas company's stock after selling 7,266 shares during the period. Philadelphia Trust Co. owned about 0.21% of Tidewater worth $5,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in Tidewater during the 4th quarter worth approximately $33,000. AlphaQuest LLC increased its stake in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock worth $44,000 after buying an additional 511 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Tidewater in the fourth quarter valued at $53,000. EverSource Wealth Advisors LLC boosted its stake in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 333 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Tidewater by 2,018.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock valued at $70,000 after acquiring an additional 1,211 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Up 0.1 %

NYSE TDW traded up $0.02 on Wednesday, reaching $32.33. The stock had a trading volume of 989,672 shares, compared to its average volume of 1,243,066. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $111.42. The business has a 50 day moving average price of $43.62 and a 200 day moving average price of $52.00. 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 company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 9.51 and a beta of 0.70.

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Insiders Place Their Bets

In other news, Director Robert Robotti bought 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. This represents a 1.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TDW shares. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and decreased their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners downgraded shares of 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

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.