Raymond James Financial Inc. Makes New $4.35 Million Investment in Tidewater Inc. (NYSE:TDW)

Raymond James Financial Inc. bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 79,446 shares of the oil and gas company's stock, valued at approximately $4,347,000. Raymond James Financial Inc. owned about 0.15% of Tidewater as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TDW. Amitell Capital Pte Ltd increased its holdings in Tidewater by 227.9% in the fourth quarter. Amitell Capital Pte Ltd now owns 24,459 shares of the oil and gas company's stock valued at $1,338,000 after purchasing an additional 17,000 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Tidewater during the 4th quarter worth about $7,204,000. Bank of Montreal Can increased its stake in shares of Tidewater by 12.9% in the 4th quarter. Bank of Montreal Can now owns 5,313 shares of the oil and gas company's stock valued at $291,000 after acquiring an additional 608 shares during the last quarter. Aristides Capital LLC acquired a new stake in shares of Tidewater in the 4th quarter valued at approximately $328,000. Finally, Russell Investments Group Ltd. boosted its stake in Tidewater by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company's stock worth $3,020,000 after acquiring an additional 496 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Tidewater Stock Up 2.1 %

TDW stock traded up $0.79 during mid-day trading on Friday, hitting $38.16. 167,649 shares of the company were exchanged, compared to its average volume of 1,086,934. The firm has a market cap of $1.96 billion, a P/E ratio of 11.23 and a beta of 0.70. 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 firm's 50 day simple moving average is $39.24 and its 200 day simple moving average is $49.25.

Analysts Set New Price Targets

Several equities research analysts have commented on TDW shares. Pickering Energy Partners downgraded shares of 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 lowered their price objective for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

Insider Buying and Selling

In other news, Director Robert Robotti bought 1,770 shares of the stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the acquisition, the director now owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 8.33% of the stock is currently owned by company 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.