Tidewater Inc. $TDW Position Trimmed by Naviter Wealth LLC

Naviter Wealth LLC trimmed its stake in Tidewater Inc. (NYSE:TDW) by 34.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,153 shares of the oil and gas company’s stock after selling 63,073 shares during the quarter. Tidewater accounts for 0.7% of Naviter Wealth LLC’s portfolio, making the stock its 23rd largest position. Naviter Wealth LLC owned about 0.24% of Tidewater worth $6,354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TDW. Blume Capital Management Inc. increased its stake in Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 413 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Tidewater by 4,245.0% in the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 849 shares during the last quarter. Bogart Wealth LLC raised its holdings in shares of Tidewater by 28.6% during the second quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Tidewater by 83.6% during the second quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 422 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel A. Hudson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $70.01, for a total value of $700,100.00. Following the sale, the executive vice president directly owned 65,986 shares in the company, valued at approximately $4,619,679.86. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

TDW has been the topic of several research reports. Evercore dropped their target price on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 12th. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Dnb Nor Markets cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Tidewater currently has a consensus rating of “Hold” and a consensus price target of $67.50.

Tidewater Trading Up 3.4%

Shares of Tidewater stock opened at $69.86 on Friday. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $71.57. The firm has a market capitalization of $3.46 billion, a PE ratio of 23.52 and a beta of 0.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The company’s fifty day moving average price is $57.88 and its two-hundred day moving average price is $55.85.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.