VELA Investment Management LLC Boosts Holdings in Tidewater Inc. (NYSE:TDW)

VELA Investment Management LLC increased its holdings in Tidewater Inc. (NYSE:TDW) by 73.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,319 shares of the oil and gas company’s stock after buying an additional 17,487 shares during the quarter. VELA Investment Management LLC owned 0.08% of Tidewater worth $2,261,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC increased its stake 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 purchasing an additional 267 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in Tidewater by 3.5% during the third quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock valued at $680,000 after acquiring an additional 321 shares during the period. Tectonic Advisors LLC raised its holdings in Tidewater by 2.3% during the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock valued at $961,000 after acquiring an additional 402 shares during the period. Private Advisor Group LLC raised 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 valued at $291,000 after acquiring an additional 463 shares during the period. Finally, Quarry LP raised its holdings in Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 531 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the topic of a number of recent analyst reports. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. DNB Markets initiated coverage on Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Three 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 company currently has an average rating of “Moderate Buy” and an average price target of $92.50.

Insider Buying and Selling

In related news, CEO Quintin Kneen purchased 41,615 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 8.33% of the stock is currently owned by company insiders.

Tidewater Trading Up 1.9 %

TDW opened at $48.77 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 14.34 and a beta of 1.04. Tidewater Inc. has a 12 month low of $46.50 and a 12 month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a 50-day moving average of $53.75 and a 200 day moving average of $61.85.

Tidewater Company 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.