Tribune Investment Group LP Acquires Shares of 60,000 Tidewater Inc. (NYSE:TDW)

Tribune Investment Group LP purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 60,000 shares of the oil and gas company's stock, valued at approximately $3,283,000. Tidewater makes up approximately 1.8% of Tribune Investment Group LP's investment portfolio, making the stock its 24th biggest position. Tribune Investment Group LP owned 0.11% of Tidewater as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on TDW. Pickering Energy Partners cut Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI downgraded shares of Tidewater from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Tidewater presently has an average rating of "Moderate Buy" and an average target price of $92.50.

Insider Buying and Selling at Tidewater

In related news, Director Robert Robotti acquired 25,000 shares of Tidewater stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now owns 2,208,670 shares of the company's stock, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 8.33% of the stock is owned by corporate insiders.

Tidewater Stock Performance

Shares of NYSE:TDW traded up $2.02 during trading on Friday, hitting $34.29. 929,455 shares of the stock traded hands, compared to its average volume of 1,076,783. The company has a fifty day moving average price of $42.35 and a two-hundred day moving average price of $51.34. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $111.42. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 10.09 and a beta of 0.70. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

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.