VELA Investment Management LLC Increases Position in Tidewater Inc. (NYSE:TDW)

VELA Investment Management LLC raised its holdings in shares of Tidewater Inc. (NYSE:TDW) by 73.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,319 shares of the oil and gas company’s stock after buying an additional 17,487 shares during the period. VELA Investment Management LLC’s holdings in Tidewater were worth $2,261,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. State Street Corp boosted its position in shares of Tidewater by 1.9% during the third quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock valued at $134,044,000 after buying an additional 35,318 shares during the period. Pacer Advisors Inc. boosted its position in shares of Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock valued at $76,277,000 after buying an additional 1,390,951 shares during the period. Geode Capital Management LLC boosted its position in shares of Tidewater by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock valued at $78,473,000 after buying an additional 5,713 shares during the period. Van ECK Associates Corp boosted its position in shares of Tidewater by 17.5% during the fourth quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company’s stock valued at $45,752,000 after buying an additional 124,610 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Tidewater by 173.4% during the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after buying an additional 385,779 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TDW shares. DNB Markets assumed coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. StockNews.com upgraded 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 lowered their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.50.

Insider Buying and Selling

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. This 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. 8.33% of the stock is currently owned by insiders.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $48.77 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 14.34 and a beta of 1.04. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42. 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 50 day moving average of $53.75 and a 200 day moving average of $61.85.

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.