CenterBook Partners LP Decreases Stake in Tidewater Inc. (NYSE:TDW)

CenterBook Partners LP reduced its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 97.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,281 shares of the oil and gas company's stock after selling 309,805 shares during the quarter. CenterBook Partners LP's holdings in Tidewater were worth $398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in shares of Tidewater by 42,719.6% during the fourth 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 last quarter. Norges Bank bought a new stake in Tidewater in the 4th quarter worth approximately $32,388,000. Renaissance Technologies LLC bought a new position in shares of Tidewater during the 4th quarter valued at $7,204,000. Villere ST Denis J & Co. LLC boosted its stake in shares of Tidewater by 35.1% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company's stock worth $26,633,000 after buying an additional 126,441 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Tidewater by 135.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 219,183 shares of the oil and gas company's stock worth $11,992,000 after acquiring an additional 126,162 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Shares of TDW stock traded up $2.02 during trading hours on Friday, reaching $34.29. 929,455 shares of the company traded hands, compared to its average volume of 1,074,786. The firm has a 50-day moving average price of $42.76 and a 200 day moving average price of $51.60. The company has a market cap of $1.76 billion, a P/E ratio of 10.09 and a beta of 0.70. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TDW. Evercore ISI downgraded Tidewater from an "outperform" rating to an "in-line" rating and lowered their target price for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tidewater currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti acquired 1,770 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the transaction, the director now directly owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.33% of the company's stock.

About Tidewater

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.