AlphaQuest LLC Grows Stake in Tidewater Inc. (NYSE:TDW)

AlphaQuest LLC grew its holdings in Tidewater Inc. (NYSE:TDW) by 177.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 799 shares of the oil and gas company’s stock after purchasing an additional 511 shares during the period. AlphaQuest LLC’s holdings in Tidewater were worth $44,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in shares of Tidewater in the fourth quarter valued at approximately $33,000. Quarry LP raised its position in shares of Tidewater by 187.6% in the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 531 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in shares of Tidewater in the third quarter valued at approximately $65,000. Venturi Wealth Management LLC raised its position in shares of 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 increased its holdings in Tidewater by 336.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company’s stock worth $87,000 after acquiring an additional 1,224 shares during the period. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in 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 lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, DNB Markets initiated coverage on shares of Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tidewater currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Price Performance

Shares of Tidewater stock opened at $43.00 on Friday. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a fifty day moving average of $50.18 and a 200-day moving average of $57.05. Tidewater Inc. has a 52-week low of $38.65 and a 52-week high of $111.42.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti purchased 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.33% of the stock is currently owned by corporate insiders.

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.