Tidewater Inc. (NYSE:TDW) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC raised its stake in shares of Tidewater Inc. (NYSE:TDW) by 33.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,665 shares of the oil and gas company’s stock after acquiring an additional 41,615 shares during the period. Tidewater makes up 1.1% of Naviter Wealth LLC’s holdings, making the stock its 18th biggest holding. Naviter Wealth LLC’s holdings in Tidewater were worth $9,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Tidewater during the fourth quarter worth $4,347,000. Charles Schwab Investment Management Inc. grew its position in Tidewater by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 490,793 shares of the oil and gas company’s stock valued at $26,851,000 after acquiring an additional 56,276 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Tidewater by 336.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 1,224 shares during the period. Capital Wealth Planning LLC acquired a new stake in shares of Tidewater during the fourth quarter worth about $301,000. Finally, VELA Investment Management LLC boosted its stake in shares of Tidewater by 73.4% in the fourth quarter. VELA Investment Management LLC now owns 41,319 shares of the oil and gas company’s stock valued at $2,261,000 after purchasing an additional 17,487 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Performance

NYSE TDW opened at $43.20 on Friday. The company has a fifty day moving average of $52.95 and a two-hundred day moving average of $60.29. The company has a market capitalization of $2.26 billion, a PE ratio of 12.70 and a beta of 1.04. Tidewater Inc. has a 1 year low of $38.65 and a 1 year high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Insider Activity at Tidewater

In other news, CEO Quintin Kneen acquired 41,615 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now owns 176,239 shares of the company’s stock, valued at $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Robotti bought 1,770 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the transaction, the director now owns 2,183,670 shares of the company’s stock, valued at approximately $89,421,286.50. The trade was a 0.08 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.33% of the company’s stock.

Analyst Upgrades and Downgrades

TDW has been the subject of several recent research reports. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. DNB Markets began coverage on shares of Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $131.00 to $102.00 in a report on Monday, November 11th. Finally, Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.50.

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.