Pecaut & CO. lessened its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 48.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the oil and gas company's stock after selling 14,000 shares during the quarter. Pecaut & CO.'s holdings in Tidewater were worth $821,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Tidewater in the third quarter valued at $243,000. Advisors Asset Management Inc. increased its holdings in Tidewater by 58.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,510 shares of the oil and gas company's stock worth $252,000 after purchasing an additional 1,299 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Tidewater in the third quarter worth approximately $1,788,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Tidewater in the third quarter worth approximately $904,000. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of Tidewater by 2.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 93,021 shares of the oil and gas company's stock valued at $6,678,000 after purchasing an additional 2,066 shares in the last quarter. 95.13% of the stock is owned by institutional investors.
Tidewater Stock Performance
TDW stock traded down $0.48 during midday trading on Tuesday, hitting $43.56. The company's stock had a trading volume of 1,235,305 shares, compared to its average volume of 1,010,784. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 12.81 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. The stock's 50-day moving average price is $49.69 and its 200 day moving average price is $56.16. Tidewater Inc. has a 1 year low of $38.65 and a 1 year high of $111.42.
Insider Buying and Selling at Tidewater
In related news, Director Robert Robotti purchased 1,770 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $40.95 per share, with a total value of $72,481.50. Following the acquisition, the director now owns 2,183,670 shares of the company's stock, valued at $89,421,286.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.33% of the company's stock.
Wall Street Analysts Forecast Growth
TDW has been the subject of several recent research reports. Evercore ISI downgraded 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 report on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, DNB Markets initiated coverage on shares of Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price target on the stock. Three investment 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 company has an average rating of "Moderate Buy" and an average price target of $92.50.
Get Our Latest Research Report on Tidewater
Tidewater Company Profile
(
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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