Loomis Sayles & Co. L P Has $21 Million Stock Position in Tidewater Inc. (NYSE:TDW)

Loomis Sayles & Co. L P lessened its holdings in Tidewater Inc. (NYSE:TDW) by 8.3% in the fourth quarter, HoldingsChannel reports. The fund owned 383,887 shares of the oil and gas company’s stock after selling 34,943 shares during the period. Loomis Sayles & Co. L P’s holdings in Tidewater were worth $21,002,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TDW. Fortitude Family Office LLC bought a new stake in Tidewater in the 4th quarter valued at about $33,000. AlphaQuest LLC boosted its stake in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 511 shares during the period. Quarry LP grew 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 worth $58,000 after buying an additional 531 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 333 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new position in Tidewater in the 3rd quarter valued at $65,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target on the stock. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their target price for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Tidewater 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 acquired 1,770 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the transaction, the director now directly owns 2,183,670 shares in the company, valued at $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.33% of the company’s stock.

Tidewater Price Performance

Shares of TDW stock opened at $43.41 on Friday. The business has a fifty day simple moving average of $48.75 and a 200 day simple moving average of $55.57. The company has a market cap of $2.23 billion, a P/E ratio of 12.77 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a twelve month low of $38.65 and a twelve month high of $111.42.

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.