Alpine Woods Capital Investors LLC Decreases Stake in Tidewater Inc. (NYSE:TDW)

Alpine Woods Capital Investors LLC trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW) by 85.8% during the fourth quarter, Holdings Channel reports. The fund owned 3,819 shares of the oil and gas company’s stock after selling 23,073 shares during the quarter. Alpine Woods Capital Investors LLC’s holdings in Tidewater were worth $209,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. grew its stake in Tidewater by 31.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,064 shares of the oil and gas company’s stock valued at $292,000 after purchasing an additional 963 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Tidewater during the third quarter worth approximately $243,000. Empowered Funds LLC grew its position in shares of Tidewater by 15.1% during the third quarter. Empowered Funds LLC now owns 56,252 shares of the oil and gas company’s stock worth $4,038,000 after buying an additional 7,367 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Tidewater by 58.8% in the third quarter. Advisors Asset Management Inc. now owns 3,510 shares of the oil and gas company’s stock worth $252,000 after buying an additional 1,299 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Tidewater in the third quarter valued at $1,788,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Stock Down 0.8 %

TDW stock opened at $39.93 on Friday. The firm has a fifty day moving average price of $51.96 and a two-hundred day moving average price of $58.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a 1-year low of $38.65 and a 1-year high of $111.42. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 11.74 and a beta of 1.06.

Analysts Set New Price Targets

Several brokerages have weighed in on TDW. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, DNB Markets started coverage on Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti bought 1,770 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $40.95 per share, with a total value of $72,481.50. Following the completion of the acquisition, the director now directly owns 2,183,670 shares of the company’s stock, valued at approximately $89,421,286.50. The trade was a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 8.33% of the company’s stock.

About Tidewater

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.