Legal & General Group Plc bought a new position in Tidewater Inc. (NYSE:TDW – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 82,100 shares of the oil and gas company’s stock, valued at approximately $5,470,000. Legal & General Group Plc owned 0.17% of Tidewater at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Inspire Investing LLC lifted its holdings in shares of Tidewater by 1.2% during the 1st quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after acquiring an additional 131 shares during the period. Baron Wealth Management LLC increased its stake in Tidewater by 4.5% in the second quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock valued at $219,000 after acquiring an additional 141 shares during the period. Lido Advisors LLC raised its position in Tidewater by 2.8% in the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 149 shares in the last quarter. Clearstead Advisors LLC raised its position in Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Tidewater by 5.8% during the second quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 164 shares during the period. Institutional investors own 95.13% of the company’s stock.
Tidewater Trading Down 6.0%
TDW stock opened at $94.61 on Friday. The business has a fifty day moving average price of $81.38 and a 200 day moving average price of $79.73. Tidewater Inc. has a fifty-two week low of $46.65 and a fifty-two week high of $101.57. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 19.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.
Insider Buying and Selling
In related news, Director Kenneth Traub sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the director owned 63,521 shares in the company, valued at $6,288,579. This represents a 13.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel Hudson sold 15,000 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the sale, the executive vice president directly owned 33,029 shares in the company, valued at approximately $3,272,513.32. This represents 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 have sold a total of 42,705 shares of company stock worth $4,097,270 in the last 90 days. Corporate insiders own 5.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on TDW shares. BTIG Research raised Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price for the company in a report on Tuesday. Barclays upped their price target on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. One equities research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $98.25.
View Our Latest Research Report on Tidewater
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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