Tidewater Inc. (NYSE:TDW) Shares Sold by Slate Path Capital LP

Slate Path Capital LP lowered its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 90.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,350 shares of the oil and gas company's stock after selling 584,650 shares during the quarter. Slate Path Capital LP owned approximately 0.12% of Tidewater worth $3,411,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in Tidewater by 42,719.6% in 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 acquiring an additional 1,390,951 shares during the last quarter. Norges Bank purchased a new position in shares of Tidewater during the 4th quarter worth about $32,388,000. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after acquiring an additional 286,097 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Tidewater in the fourth quarter valued at approximately $7,204,000. Finally, Villere ST Denis J & Co. LLC increased its position in Tidewater by 35.1% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TDW shares. Pickering Energy Partners downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and lowered their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Stock Up 0.9 %

Tidewater stock traded up $0.33 during midday trading on Friday, hitting $36.37. The stock had a trading volume of 743,773 shares, compared to its average volume of 1,082,470. 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 business has a fifty day moving average price of $40.38 and a 200 day moving average price of $50.09. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $111.42. The stock has a market cap of $1.87 billion, a P/E ratio of 10.70 and a beta of 0.70.

Insider Activity

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