Tidewater Inc. (NYSE:TDW) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lowered its position in shares of Tidewater Inc. (NYSE:TDW) by 43.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 21,221 shares of the oil and gas company’s stock after selling 16,215 shares during the quarter. Edgestream Partners L.P.’s holdings in Tidewater were worth $1,161,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. Crossmark Global Holdings Inc. lifted its position in Tidewater by 31.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,064 shares of the oil and gas company’s stock worth $292,000 after acquiring an additional 963 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Tidewater in the 3rd quarter valued at about $243,000. Empowered Funds LLC lifted its holdings in shares of Tidewater by 15.1% in the 3rd quarter. Empowered Funds LLC now owns 56,252 shares of the oil and gas company’s stock valued at $4,038,000 after buying an additional 7,367 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Tidewater by 58.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 3,510 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 1,299 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Tidewater in the 3rd quarter valued at about $1,788,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Activity at Tidewater

In other Tidewater news, CEO Quintin Kneen purchased 41,615 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Robotti purchased 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average price of $40.95 per share, with a total value of $72,481.50. Following the purchase, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.33% of the stock is owned by company insiders.

Tidewater Price Performance

Shares of Tidewater stock opened at $40.70 on Wednesday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a twelve month low of $38.65 and a twelve month high of $111.42. The business has a 50-day moving average price of $52.25 and a 200 day moving average price of $58.96. The firm has a market cap of $2.09 billion, a PE ratio of 11.97 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TDW. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. DNB Markets began coverage on Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

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.