Tidewater Inc. (NYSE:TDW) Shares Sold by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. trimmed its position in Tidewater Inc. (NYSE:TDW) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,452 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Wittenberg Investment Management Inc.’s holdings in Tidewater were worth $1,174,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Tidewater by 53.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 25,739 shares of the oil and gas company’s stock valued at $1,848,000 after purchasing an additional 8,978 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Tidewater by 3.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 39,577 shares of the oil and gas company’s stock valued at $2,841,000 after buying an additional 1,168 shares during the last quarter. Captrust Financial Advisors acquired a new position in Tidewater in the third quarter valued at about $378,000. Centiva Capital LP purchased a new position in Tidewater during the third quarter worth about $958,000. Finally, Quarry LP increased its position in shares of Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

Shares of TDW opened at $37.76 on Friday. The company has a market cap of $1.94 billion, a P/E ratio of 11.11 and a beta of 1.06. Tidewater Inc. has a fifty-two week low of $36.74 and a fifty-two week high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm’s 50 day moving average price is $47.63 and its 200 day moving average price is $54.77.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Insider Transactions at Tidewater

In related news, Director Robert Robotti purchased 25,000 shares of Tidewater stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.33% of the company’s stock.

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.