Charles Schwab Investment Management Inc. boosted its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 490,793 shares of the oil and gas company's stock after acquiring an additional 56,276 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.94% of Tidewater worth $26,851,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Fortitude Family Office LLC purchased a new position in shares of Tidewater in the 4th quarter worth approximately $33,000. Quarry LP boosted its stake in Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company's stock worth $58,000 after buying an additional 531 shares during the period. Northwest & Ethical Investments L.P. purchased a new stake in shares of Tidewater in the third quarter valued at $65,000. Venturi Wealth Management LLC lifted its holdings in shares of Tidewater by 2,018.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company's stock worth $70,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Tidewater by 336.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock worth $87,000 after purchasing an additional 1,224 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.
Tidewater Stock Down 2.0 %
Shares of TDW stock traded down $0.87 on Friday, hitting $42.04. The stock had a trading volume of 964,543 shares, compared to its average volume of 1,007,261. Tidewater Inc. has a one year low of $38.65 and a one year high of $111.42. The business has a 50 day moving average price of $50.18 and a 200 day moving average price of $57.05. The company has a market cap of $2.16 billion, a PE ratio of 12.36 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on TDW shares. DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a "buy" rating and a $70.00 price objective on the stock. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and decreased their price target for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research 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. According to data from MarketBeat.com, Tidewater currently has an average rating of "Moderate Buy" and a consensus price target of $92.50.
Read Our Latest Report on TDW
Insider Activity
In other Tidewater news, Director Robert Robotti acquired 25,000 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the purchase, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 8.33% of the company's stock.
Tidewater 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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