Tidewater Inc. (NYSE:TDW) Stake Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Tidewater Inc. (NYSE:TDWFree Report) by 59.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 222,725 shares of the oil and gas company’s stock after buying an additional 82,780 shares during the period. Assenagon Asset Management S.A.’s holdings in Tidewater were worth $12,185,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TDW. Van ECK Associates Corp purchased a new stake in shares of Tidewater in the third quarter worth approximately $51,089,000. Cerity Partners LLC lifted its position in Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after acquiring an additional 385,779 shares during the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in Tidewater in the 3rd quarter valued at approximately $25,871,000. Public Sector Pension Investment Board bought a new position in Tidewater during the second quarter worth $10,171,000. Finally, Harbor Capital Advisors Inc. raised its position in shares of Tidewater by 207.8% during the third quarter. Harbor Capital Advisors Inc. now owns 124,391 shares of the oil and gas company’s stock valued at $8,930,000 after buying an additional 83,975 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Quintin Kneen purchased 41,615 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the acquisition, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $112.00 to $68.00 in a research report on Wednesday. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, DNB Markets initiated coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Tidewater has an average rating of “Moderate Buy” and an average target price of $91.60.

Check Out Our Latest Report on TDW

Tidewater Price Performance

Shares of TDW stock opened at $55.78 on Friday. The firm has a fifty day moving average of $52.03 and a 200-day moving average of $70.23. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of 16.41 and a beta of 1.06. Tidewater Inc. has a 12-month low of $46.50 and a 12-month high of $111.42.

Tidewater Profile

(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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Institutional Ownership by Quarter for Tidewater (NYSE:TDW)

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