Philadelphia Trust Co. Sells 7,266 Shares of Tidewater Inc. (NYSE:TDW)

Philadelphia Trust Co. cut its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,791 shares of the oil and gas company's stock after selling 7,266 shares during the period. Philadelphia Trust Co. owned about 0.21% of Tidewater worth $5,897,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Tidewater by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company's stock valued at $300,155,000 after buying an additional 56,919 shares during the last quarter. Robotti Robert increased its position in shares of Tidewater by 1.1% during the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company's stock valued at $144,050,000 after purchasing an additional 28,083 shares during the last quarter. State Street Corp boosted its holdings in shares of Tidewater by 1.9% in the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company's stock worth $134,044,000 after buying an additional 35,318 shares during the last quarter. Pacer Advisors Inc. increased its holdings in 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 worth $76,277,000 after buying an additional 1,390,951 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Tidewater by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company's stock valued at $78,473,000 after acquiring an additional 5,713 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Tidewater Trading Up 7.1 %

Shares of NYSE TDW traded up $2.28 during trading hours on Thursday, hitting $34.55. The company's stock had a trading volume of 499,782 shares, compared to its average volume of 1,070,686. 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 quick ratio of 2.19 and a current ratio of 2.29. The business has a 50-day simple moving average of $43.20 and a 200-day simple moving average of $51.86. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 10.15 and a beta of 0.70.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.33% of the stock is owned by corporate 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.