Wells Fargo & Company MN cut its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,508 shares of the oil and gas company's stock after selling 31,202 shares during the period. Wells Fargo & Company MN owned about 0.13% of Tidewater worth $3,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. Tidal Investments LLC raised its position in shares of Tidewater by 8.1% in the third 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 period. EverSource Wealth Advisors LLC raised its position 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 worth $58,000 after purchasing an additional 333 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Tidewater by 2.3% during 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 during the last quarter. Private Advisor Group LLC raised its position in shares of 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 worth $291,000 after purchasing an additional 463 shares during the last quarter. Finally, AlphaQuest LLC grew its stake in Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 511 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Tidewater
In other news, Director Robert Robotti acquired 25,000 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the acquisition, the director now owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. This represents a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.33% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on TDW. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Tidewater currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.50.
View Our Latest Report on TDW
Tidewater Trading Up 0.7 %
Shares of TDW stock traded up $0.24 on Monday, hitting $36.59. The stock had a trading volume of 687,621 shares, compared to its average volume of 1,083,409. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market capitalization of $1.88 billion, a P/E ratio of 10.76 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's 50 day moving average price is $40.05 and its 200-day moving average price is $49.62.
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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