Naviter Wealth LLC Grows Stock Position in Tidewater Inc. (NYSE:TDW)

Naviter Wealth LLC increased its stake in shares of Tidewater Inc. (NYSE:TDW) by 33.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,665 shares of the oil and gas company’s stock after acquiring an additional 41,615 shares during the period. Tidewater comprises 1.1% of Naviter Wealth LLC’s holdings, making the stock its 18th largest position. Naviter Wealth LLC owned approximately 0.32% of Tidewater worth $9,173,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TDW. Fortitude Family Office LLC purchased a new stake in shares of Tidewater during the 4th quarter worth about $33,000. Quarry LP raised its holdings in Tidewater by 187.6% in the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 531 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in Tidewater during the third quarter worth approximately $65,000. Venturi Wealth Management LLC grew its holdings in Tidewater by 2,018.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 1,211 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its holdings in Tidewater by 336.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 1,224 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Analyst Ratings Changes

TDW has been the topic of a number of recent analyst reports. DNB Markets assumed coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI lowered shares of 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 research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Stock Performance

NYSE:TDW opened at $43.20 on Friday. Tidewater Inc. has a twelve month low of $38.65 and a twelve month high of $111.42. The company has a market cap of $2.26 billion, a P/E ratio of 12.70 and a beta of 1.04. 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 company’s 50-day moving average price is $52.95 and its 200-day moving average price is $60.29.

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.