NewEdge Advisors LLC Raises Stock Holdings in Tidewater Inc. (NYSE:TDW)

NewEdge Advisors LLC boosted its holdings in Tidewater Inc. (NYSE:TDW) by 66.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,439 shares of the oil and gas company’s stock after buying an additional 4,161 shares during the period. NewEdge Advisors LLC’s holdings in Tidewater were worth $571,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in Tidewater in the fourth quarter valued at approximately $33,000. AlphaQuest LLC grew its holdings in Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC purchased a new stake in Tidewater in the fourth quarter valued at approximately $53,000. EverSource Wealth Advisors LLC grew its holdings in Tidewater by 45.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. Finally, Venturi Wealth Management LLC grew its holdings in Tidewater by 2,018.3% in the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 1,211 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tidewater

In other news, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $40.95 per share, with a total value of $72,481.50. Following the completion of the transaction, the director now owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 8.33% of the company’s stock.

Tidewater Trading Up 0.9 %

NYSE TDW opened at $36.37 on Monday. The company’s fifty day simple moving average is $40.38 and its 200-day simple moving average is $49.84. Tidewater Inc. has a 52 week low of $31.17 and a 52 week 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. The stock has a market cap of $1.87 billion, a P/E ratio of 10.70 and a beta of 0.70.

Analysts Set New Price Targets

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