Voya Investment Management LLC lowered its position in Tidewater Inc. (NYSE:TDW - Free Report) by 95.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 18,499 shares of the oil and gas company's stock after selling 352,536 shares during the period. Voya Investment Management LLC's holdings in Tidewater were worth $1,012,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the business. Pacer Advisors Inc. boosted its stake in shares of Tidewater by 42,719.6% in 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 acquiring an additional 1,390,951 shares during the period. Norges Bank bought a new position in Tidewater in the 4th quarter worth approximately $32,388,000. Price T Rowe Associates Inc. MD grew its holdings in Tidewater by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock valued at $126,180,000 after buying an additional 390,814 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tidewater by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock valued at $84,888,000 after buying an additional 286,097 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Tidewater in the fourth quarter worth $7,204,000. Hedge funds and other institutional investors own 95.13% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on TDW. Raymond James reduced their price target on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday. Evercore ISI lowered 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. Finally, Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Tidewater has an average rating of "Moderate Buy" and an average price target of $84.50.
View Our Latest Analysis on Tidewater
Tidewater Trading Up 0.8 %
NYSE TDW traded up $0.31 during trading hours on Friday, hitting $41.44. 1,274,942 shares of the company were exchanged, compared to its average volume of 1,090,149. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $110.06. 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 stock has a 50-day moving average price of $38.55 and a 200 day moving average price of $48.28. The stock has a market cap of $2.11 billion, a PE ratio of 12.19 and a beta of 1.00.
Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.24. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The firm's revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. Analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director Robert Robotti bought 25,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 8.33% of the stock is owned by corporate insiders.
About Tidewater
(
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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