Raymond James Financial Inc. Invests $4.35 Million in Tidewater Inc. (NYSE:TDW)

Raymond James Financial Inc. purchased a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,446 shares of the oil and gas company's stock, valued at approximately $4,347,000. Raymond James Financial Inc. owned about 0.15% of Tidewater at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TDW. Hodges Capital Management Inc. raised its position in shares of Tidewater by 103.0% during the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock valued at $5,288,000 after acquiring an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Tidewater by 23.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock valued at $8,431,000 after purchasing an additional 29,721 shares during the last quarter. Barclays PLC lifted its stake in Tidewater by 354.2% in the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after buying an additional 61,487 shares during the period. Pacer Advisors Inc. boosted its holdings in Tidewater by 42,719.6% during 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 buying an additional 1,390,951 shares during the last quarter. Finally, Harbour Capital Advisors LLC bought a new position in Tidewater during the fourth quarter worth about $704,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Evercore ISI downgraded shares of Tidewater from an "outperform" rating to an "in-line" rating and cut their price target for the company 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 research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.50.

Insider Activity

In related 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 acquired at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.33% of the company's stock.

Tidewater Price Performance

NYSE TDW opened at $36.37 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 10.70 and a beta of 0.70. The business has a 50 day simple moving average of $40.38 and a 200 day simple moving average of $49.97. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $111.42.

About Tidewater

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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