Trexquant Investment LP decreased its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 31.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,626 shares of the oil and gas company's stock after selling 26,964 shares during the quarter. Trexquant Investment LP owned about 0.11% of Tidewater worth $3,207,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in TDW. Hodges Capital Management Inc. increased its holdings in Tidewater by 103.0% during the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after buying an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Tidewater by 23.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock valued at $8,431,000 after acquiring an additional 29,721 shares during the period. Barclays PLC increased its stake in shares of Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock worth $5,661,000 after purchasing an additional 61,487 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of 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 purchasing an additional 1,390,951 shares during the period. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Tidewater in the 4th quarter valued at about $704,000. Institutional investors own 95.13% of the company's stock.
Insider Activity
In other Tidewater news, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The stock was bought at an average price of $40.95 per share, with a total value of $72,481.50. Following the completion of the transaction, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. The trade was a 0.08 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.33% of the stock is owned by company insiders.
Tidewater Stock Performance
TDW traded up $1.62 on Friday, reaching $35.30. The company had a trading volume of 1,032,650 shares, compared to its average volume of 1,065,902. The company's fifty day moving average is $44.48 and its 200 day moving average is $52.53. 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 stock has a market cap of $1.82 billion, a P/E ratio of 10.38 and a beta of 0.70. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $111.42.
Analysts Set New Price Targets
A number of equities analysts recently commented on TDW shares. Evercore ISI cut Tidewater from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.50.
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About Tidewater
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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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