River Road Asset Management LLC Sells 2,418 Shares of Tidewater Inc. (NYSE:TDW)

River Road Asset Management LLC decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,390 shares of the oil and gas company’s stock after selling 2,418 shares during the quarter. River Road Asset Management LLC’s holdings in Tidewater were worth $3,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDW. Tidal Investments LLC lifted its holdings in shares of Tidewater by 8.1% during the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after buying an additional 267 shares during the last quarter. Glenmede Trust Co. NA raised its stake in 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 purchasing an additional 321 shares during the last quarter. Tectonic Advisors LLC boosted its holdings in Tidewater by 2.3% in the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock valued at $961,000 after purchasing an additional 402 shares during the period. Private Advisor Group LLC grew its position in Tidewater by 9.5% in the 4th quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 463 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Up 0.9 %

NYSE TDW opened at $40.70 on Wednesday. Tidewater Inc. has a 1-year low of $38.65 and a 1-year high of $111.42. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 11.97 and a beta of 1.06. The stock’s 50 day moving average is $52.25 and its two-hundred day moving average is $58.96. 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 Activity at Tidewater

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TDW shares. DNB Markets initiated coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Tidewater presently has a consensus rating of “Moderate Buy” and a consensus 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.