Wellington Management Group LLP Acquires 28,461 Shares of Tidewater Inc. (NYSE:TDW)

Wellington Management Group LLP increased its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 432,652 shares of the oil and gas company's stock after acquiring an additional 28,461 shares during the period. Wellington Management Group LLP owned about 0.83% of Tidewater worth $31,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Weiss Asset Management LP acquired a new stake in Tidewater in the 3rd quarter valued at $4,086,000. State Street Corp increased its stake in Tidewater by 1.9% in the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company's stock valued at $134,044,000 after buying an additional 35,318 shares during the last quarter. Quarry LP increased its stake in Tidewater by 187.6% in the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company's stock valued at $58,000 after buying an additional 531 shares during the last quarter. Centiva Capital LP acquired a new stake in Tidewater in the 3rd quarter valued at $958,000. Finally, Edgestream Partners L.P. acquired a new stake in Tidewater in the 3rd quarter valued at $2,688,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Performance

Shares of TDW stock traded down $0.59 during midday trading on Friday, hitting $47.70. 398,771 shares of the company were exchanged, compared to its average volume of 908,819. The firm has a market capitalization of $2.50 billion, a P/E ratio of 14.20 and a beta of 1.10. 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 firm's 50 day moving average price is $57.42 and its two-hundred day moving average price is $78.48. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. DNB Markets assumed coverage on shares of Tidewater in a research note on Friday, November 29th. They set a "buy" rating and a $70.00 price objective on the stock. StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Finally, Raymond James lowered shares of Tidewater from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $95.80.

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.