Bleakley Financial Group LLC Acquires Shares of 6,735 Tidewater Inc. (NYSE:TDW)

Bleakley Financial Group LLC acquired a new stake in Tidewater Inc. (NYSE:TDW) in the fourth quarter, Holdings Channel reports. The fund acquired 6,735 shares of the oil and gas company’s stock, valued at approximately $368,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 267 shares during the period. Glenmede Trust Co. NA grew its stake in Tidewater by 3.5% in the third 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 period. Tectonic Advisors LLC grew its stake in Tidewater by 2.3% in the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock valued at $961,000 after acquiring an additional 402 shares during the period. GAMMA Investing LLC grew its stake in Tidewater by 163.5% in the third quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 435 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Tidewater by 0.3% during the third quarter. Assenagon Asset Management S.A. now owns 139,945 shares of the oil and gas company’s stock valued at $10,047,000 after buying an additional 457 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TDW. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Finally, Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Stock Performance

Shares of Tidewater stock opened at $55.83 on Tuesday. The business’s fifty day simple moving average is $52.94 and its 200 day simple moving average is $65.00. The firm has a market capitalization of $2.92 billion, a P/E ratio of 16.42 and a beta of 1.04. Tidewater Inc. has a 12 month low of $46.50 and a 12 month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling

In other news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. This represents a 30.91 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.33% of the stock is currently 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.