Meeder Asset Management Inc. Invests $109,000 in Tidewater Inc. (NYSE:TDW)

Meeder Asset Management Inc. acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,996 shares of the oil and gas company’s stock, valued at approximately $109,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Tidewater by 9.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,517 shares of the oil and gas company’s stock worth $31,194,000 after purchasing an additional 38,411 shares during the period. Citigroup Inc. increased its stake in Tidewater by 75.2% in the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock valued at $4,193,000 after acquiring an additional 25,064 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Tidewater by 53.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 25,739 shares of the oil and gas company’s stock valued at $1,848,000 after buying an additional 8,978 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Tidewater by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock worth $680,000 after acquiring an additional 321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tidewater by 3.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,577 shares of the oil and gas company’s stock valued at $2,841,000 after buying an additional 1,168 shares during the period. Institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Robotti purchased 25,000 shares of Tidewater stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the acquisition, the director now directly owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Stock Performance

Shares of TDW stock opened at $42.89 on Wednesday. The company’s fifty day moving average price is $48.22 and its 200-day moving average price is $54.97. The stock has a market cap of $2.21 billion, a PE ratio of 12.61 and a beta of 1.06. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 12 month low of $38.65 and a 12 month high of $111.42.

Tidewater 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.