Wellington Management Group LLP lessened its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 296,513 shares of the oil and gas company's stock after selling 136,139 shares during the quarter. Wellington Management Group LLP owned about 0.57% of Tidewater worth $16,222,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Tidewater by 3.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,577 shares of the oil and gas company's stock worth $2,841,000 after purchasing an additional 1,168 shares during the period. Captrust Financial Advisors bought a new position in Tidewater in the 3rd quarter worth $378,000. Quarry LP raised 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 valued at $58,000 after acquiring an additional 531 shares during the period. State Street Corp raised its stake in Tidewater by 1.9% during 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 purchasing an additional 35,318 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Tidewater during the third quarter valued at approximately $1,077,000. Institutional investors own 95.13% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and cut their price objective for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of "Moderate Buy" and a consensus price target of $92.50.
Read Our Latest Research Report on Tidewater
Insider Buying and Selling
In other news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.33% of the stock is currently owned by company insiders.
Tidewater Trading Down 0.3 %
TDW stock traded down $0.10 during midday trading on Monday, reaching $35.24. The company's stock had a trading volume of 98,769 shares, compared to its average volume of 1,225,204. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $111.42. 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 fifty day simple moving average of $44.48 and a two-hundred day simple moving average of $52.40. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 10.41 and a beta of 0.70.
Tidewater 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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