Renaissance Technologies LLC Takes $7.20 Million Position in Tidewater Inc. (NYSE:TDW)

Renaissance Technologies LLC acquired a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 131,683 shares of the oil and gas company's stock, valued at approximately $7,204,000. Renaissance Technologies LLC owned approximately 0.25% of Tidewater as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC raised its holdings in shares of Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock worth $257,000 after acquiring an additional 267 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Tidewater by 45.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after purchasing an additional 333 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Tidewater by 2.3% in the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock valued at $961,000 after purchasing an additional 402 shares in the last quarter. Private Advisor Group LLC grew its holdings in Tidewater by 9.5% during the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company's stock worth $291,000 after buying an additional 463 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Tidewater by 0.9% in the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company's stock valued at $3,020,000 after buying an additional 496 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Price Performance

NYSE:TDW traded up $1.04 during mid-day trading on Thursday, hitting $35.12. 212,324 shares of the stock traded hands, compared to its average volume of 1,075,532. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The company has a market cap of $1.81 billion, a PE ratio of 10.30 and a beta of 0.70. The business's 50-day moving average price is $41.13 and its 200 day moving average price is $50.55.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the transaction, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. The trade was a 1.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 8.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TDW has been the topic of several recent analyst reports. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and dropped their target price for the stock 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 note on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

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.