VELA Investment Management LLC grew its position in Tidewater Inc. (NYSE:TDW – Free Report) by 17.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,540 shares of the oil and gas company’s stock after acquiring an additional 5,834 shares during the quarter. VELA Investment Management LLC owned 0.08% of Tidewater worth $2,568,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Blue Trust Inc. bought a new position in Tidewater in the first quarter worth $26,000. Public Employees Retirement System of Ohio bought a new stake in Tidewater in the 2nd quarter valued at $27,000. Longview Financial Advisors Inc. bought a new stake in Tidewater in the 1st quarter valued at $54,000. Parallel Advisors LLC raised its stake in shares of Tidewater by 37.3% in the 1st quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 208 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake in shares of Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.
Tidewater Stock Performance
TDW stock opened at $94.32 on Tuesday. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $101.57. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. The firm has a market cap of $4.69 billion, a PE ratio of 19.09 and a beta of 0.56. The business’s 50-day moving average price is $82.48 and its two-hundred day moving average price is $80.07.
Analyst Ratings Changes
TDW has been the topic of several recent research reports. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Barclays raised their price target on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. BTIG Research upgraded Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday, September 1st. Finally, Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $98.25.
Get Our Latest Research Report on Tidewater
Insider Transactions at Tidewater
In related news, Director Kenneth Traub sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the director owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total value of $1,486,200.00. Following the completion of the transaction, the executive vice president owned 33,029 shares of the company’s stock, valued at $3,272,513.32. The trade was a 31.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 42,705 shares of company stock valued at $4,097,270 over the last three months. Company insiders own 5.90% of the company’s stock.
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.
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