609 Shares in Tidewater Inc. (NYSE:TDW) Bought by Fortitude Family Office LLC

Fortitude Family Office LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW) in the 4th quarter, Holdings Channel reports. The institutional investor bought 609 shares of the oil and gas company’s stock, valued at approximately $33,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of TDW. Centiva Capital LP bought a new position in shares of Tidewater during the 3rd quarter valued at about $958,000. Teachers Retirement System of The State of Kentucky bought a new position in Tidewater during the second quarter valued at approximately $1,241,000. Raymond James & Associates grew its holdings in Tidewater by 11.9% during the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock valued at $6,725,000 after buying an additional 9,952 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Tidewater by 75.2% during the 3rd quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock worth $4,193,000 after acquiring an additional 25,064 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Tidewater by 354.2% during the 3rd 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 last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Performance

Tidewater stock opened at $55.46 on Friday. Tidewater Inc. has a 1-year low of $46.50 and a 1-year high of $111.42. The company’s 50-day moving average is $52.67 and its 200 day moving average is $71.99. The firm has a market capitalization of $2.90 billion, a P/E ratio of 16.31 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TDW. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. DNB Markets began coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.80.

Insider Transactions at Tidewater

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. The trade was a 30.91 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.33% of the company’s stock.

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.