Renaissance Technologies LLC Invests $7.20 Million in Tidewater Inc. (NYSE:TDW)

Renaissance Technologies LLC purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 131,683 shares of the oil and gas company's stock, valued at approximately $7,204,000. Renaissance Technologies LLC owned 0.25% of Tidewater as of its most recent filing with the Securities & Exchange Commission.

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

Tidewater Stock Up 0.6 %

Shares of NYSE:TDW traded up $0.21 during midday trading on Wednesday, reaching $34.04. The company had a trading volume of 691,465 shares, compared to its average volume of 1,076,564. Tidewater Inc. has a one year low of $31.17 and a one year high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The stock has a market capitalization of $1.75 billion, a P/E ratio of 9.98 and a beta of 0.70. The stock's fifty day moving average price is $41.54 and its 200-day moving average price is $50.67.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average price 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 trade represents a 1.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TDW shares. Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI lowered shares of Tidewater from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $112.00 to $68.00 in a 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.