Exchange Traded Concepts LLC Reduces Holdings in Tidewater Inc. (NYSE:TDW)

Exchange Traded Concepts LLC lessened its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 71.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,913 shares of the oil and gas company's stock after selling 4,705 shares during the period. Exchange Traded Concepts LLC's holdings in Tidewater were worth $105,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TDW. Quarry LP purchased a new stake in Tidewater in the 2nd quarter worth approximately $27,000. Fortitude Family Office LLC purchased a new position in shares of Tidewater in the fourth quarter valued at $33,000. GAMMA Investing LLC increased its holdings in Tidewater by 163.5% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company's stock worth $50,000 after purchasing an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in shares of Tidewater in the 3rd quarter valued at about $65,000. Finally, FNY Investment Advisers LLC acquired a new position in Tidewater in the fourth quarter worth $95,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Trading Down 0.0 %

TDW traded down $0.00 during trading on Wednesday, reaching $54.93. 825,286 shares of the stock traded hands, compared to its average volume of 1,003,130. The stock's 50-day moving average is $52.74 and its 200 day moving average is $66.26. Tidewater Inc. has a 12 month low of $46.50 and a 12 month high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.87 billion, a PE ratio of 16.15 and a beta of 1.04.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.08. The firm had revenue of $340.36 million for the quarter, compared to the consensus estimate of $339.65 million. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. During the same period in the previous year, the firm earned $0.77 EPS. Equities analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Insider Activity

In other Tidewater news, CEO Quintin Kneen bought 41,615 shares of the business's stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the purchase, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.33% of the company's stock.

Analysts Set New Price Targets

TDW has been the topic of several research analyst reports. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Raymond James downgraded shares of Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. Finally, DNB Markets initiated coverage on Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Tidewater presently has an average rating of "Moderate Buy" and an average target price of $91.60.

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.