VELA Investment Management LLC Increases Holdings in Tidewater Inc. (NYSE:TDW)

VELA Investment Management LLC grew its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 73.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,319 shares of the oil and gas company's stock after acquiring an additional 17,487 shares during the quarter. VELA Investment Management LLC owned 0.08% of Tidewater worth $2,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDW. Fortitude Family Office LLC acquired a new position in shares of Tidewater during the 4th quarter worth about $33,000. Quarry LP increased its holdings 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 last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Tidewater in the 3rd quarter valued at about $65,000. Venturi Wealth Management LLC raised 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 valued at $70,000 after purchasing an additional 1,211 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in Tidewater during the fourth quarter worth approximately $95,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and reduced their price objective for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Pickering Energy Partners downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Raymond James lowered Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Finally, DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $92.50.

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Tidewater Stock Up 4.1 %

TDW traded up $1.67 during midday trading on Tuesday, hitting $42.32. The company had a trading volume of 1,910,144 shares, compared to its average volume of 991,084. Tidewater Inc. has a 52 week low of $38.69 and a 52 week high of $111.42. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.39 and a beta of 1.04. The stock's 50 day moving average price is $53.49 and its 200 day moving average price is $60.90. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Insider Transactions at Tidewater

In other Tidewater news, CEO Quintin Kneen purchased 41,615 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares in the company, valued at $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is owned by insiders.

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.