Cibc World Markets Corp Makes New Investment in Tidewater Inc. (NYSE:TDW)

Cibc World Markets Corp purchased a new stake in shares of Tidewater Inc. (NYSE:TDW) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 4,564 shares of the oil and gas company’s stock, valued at approximately $250,000.

A number of other large investors have also recently made changes to their positions in the stock. Centiva Capital LP purchased a new stake in Tidewater in the third quarter worth approximately $958,000. Hodges Capital Management Inc. boosted its stake in shares of Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock worth $5,288,000 after buying an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Tidewater by 23.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock worth $8,431,000 after acquiring an additional 29,721 shares during the period. Citigroup Inc. increased its position in Tidewater by 75.2% during 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. Finally, Barclays PLC lifted its holdings in Tidewater by 354.2% in the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after acquiring an additional 61,487 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Robert Robotti acquired 25,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $40.11 per share, for a total transaction 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 trade represents a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 8.33% of the company’s stock.

Tidewater Trading Down 1.1 %

Shares of NYSE:TDW opened at $43.56 on Wednesday. Tidewater Inc. has a 12-month low of $38.65 and a 12-month high of $111.42. The company has a market cap of $2.24 billion, a PE ratio of 12.81 and a beta of 1.06. The stock has a 50 day moving average of $49.47 and a 200 day moving average of $55.94. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Wall Street Analysts Forecast Growth

TDW has been the subject of several research reports. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and reduced their price target for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, DNB Markets initiated coverage on shares of Tidewater in a research report on Friday, November 29th. They set 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 three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and a consensus target price of $92.50.

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.