Geode Capital Management LLC Purchases 5,713 Shares of Tidewater Inc. (NYSE:TDW)

Geode Capital Management LLC increased its position in Tidewater Inc. (NYSE:TDW) by 0.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,092,887 shares of the oil and gas company’s stock after purchasing an additional 5,713 shares during the quarter. Geode Capital Management LLC owned approximately 2.09% of Tidewater worth $78,473,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sage Mountain Advisors LLC boosted its position in shares of Tidewater by 4.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 120 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Tidewater by 0.7% during the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after buying an additional 174 shares during the last quarter. Xponance Inc. grew its position in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock worth $294,000 after buying an additional 279 shares during the period. Quarry LP bought a new stake in shares of Tidewater in the 2nd quarter valued at about $27,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Tidewater in the 2nd quarter valued at approximately $30,000. 95.13% of the stock is owned by institutional investors.

Tidewater Trading Up 0.7 %

TDW opened at $49.00 on Friday. The firm’s fifty day simple moving average is $55.40 and its 200 day simple moving average is $76.59. The stock has a market capitalization of $2.56 billion, a P/E ratio of 14.41 and a beta of 1.10. 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 $46.50 and a 12 month high of $111.42.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TDW shares. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. DNB Markets began coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Raymond James downgraded Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.80.

Insider Buying and Selling

In other news, CEO Quintin Kneen bought 41,615 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the purchase, the chief executive officer now owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.33% of the stock is owned by corporate insiders.

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.