Connor Clark & Lunn Investment Management Ltd. acquired a new position in Tidewater Inc. (NYSE:TDW – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 65,938 shares of the oil and gas company’s stock, valued at approximately $4,393,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Kendall Capital Management acquired a new stake in Tidewater in the 2nd quarter valued at approximately $1,071,000. Orchard Capital Management LLC acquired a new position in Tidewater during the second quarter worth $3,249,000. De Lisle Partners LLP acquired a new position in Tidewater during the second quarter worth $8,412,000. Callan Family Office LLC purchased a new position in shares of Tidewater during the second quarter worth $226,000. Finally, JB Capital Partners LP purchased a new position in shares of Tidewater during the second quarter worth $1,665,750,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.
Tidewater Price Performance
Tidewater stock opened at $93.17 on Friday. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $97.50. The firm has a market cap of $4.64 billion, a PE ratio of 18.86 and a beta of 0.53. The company’s 50 day moving average is $78.38 and its two-hundred day moving average is $78.79.
Analyst Ratings Changes
A number of brokerages have recently weighed in on TDW. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Barclays increased their target price on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Finally, Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Tidewater currently has an average rating of “Hold” and an average price target of $91.00.
View Our Latest Stock Analysis on Tidewater
Insider Transactions at Tidewater
In related news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. This trade represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.
Tidewater 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.
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