Meeder Asset Management Inc. Acquires New Shares in Tidewater Inc. (NYSE:TDW)

Meeder Asset Management Inc. bought a new position in Tidewater Inc. (NYSE:TDW) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,996 shares of the oil and gas company’s stock, valued at approximately $109,000.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of Tidewater by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,517 shares of the oil and gas company’s stock valued at $31,194,000 after buying an additional 38,411 shares during the last quarter. Citigroup Inc. lifted its stake in Tidewater by 75.2% during the 3rd 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 period. BNP Paribas Financial Markets lifted its stake in Tidewater by 53.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 25,739 shares of the oil and gas company’s stock valued at $1,848,000 after acquiring an additional 8,978 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Tidewater by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock valued at $680,000 after acquiring an additional 321 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Tidewater by 3.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,577 shares of the oil and gas company’s stock worth $2,841,000 after acquiring an additional 1,168 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

TDW opened at $42.89 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 $2.21 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $48.22 and its 200 day moving average is $54.97.

Insider Buying and Selling

In other news, Director Robert Robotti purchased 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now directly owns 2,208,670 shares in the company, valued at $88,589,753.70. This trade represents a 1.14 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TDW shares. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Company 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.