Capital Wealth Planning LLC Acquires New Holdings in Tidewater Inc. (NYSE:TDW)

Capital Wealth Planning LLC acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,500 shares of the oil and gas company’s stock, valued at approximately $301,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TDW. Fortitude Family Office LLC bought a new position in Tidewater during the fourth quarter valued at approximately $33,000. Quarry LP raised its position in 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 in the last quarter. Northwest & Ethical Investments L.P. bought a new position in Tidewater during the third quarter valued at approximately $65,000. Venturi Wealth Management LLC raised its position in Tidewater by 2,018.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock valued at $70,000 after acquiring an additional 1,211 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Tidewater during the fourth quarter valued at approximately $95,000. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Trading Down 6.1 %

Shares of Tidewater stock opened at $45.64 on Friday. The company’s fifty day simple moving average is $53.69 and its 200-day simple moving average is $61.41. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 13.42 and a beta of 1.04. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 1 year low of $43.32 and a 1 year high of $111.42.

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the purchase, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.33% of the stock is currently owned by corporate insiders.

Tidewater 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.