Tidewater Inc. (NYSE:TDW) Shares Purchased by Cynosure Group LLC

Cynosure Group LLC boosted its holdings in Tidewater Inc. (NYSE:TDW) by 29.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,429 shares of the oil and gas company’s stock after buying an additional 2,812 shares during the period. Cynosure Group LLC’s holdings in Tidewater were worth $680,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TDW. Charles Schwab Investment Management Inc. boosted its holdings in Tidewater by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,517 shares of the oil and gas company’s stock worth $31,194,000 after acquiring an additional 38,411 shares during the period. Citigroup Inc. grew its stake in Tidewater by 75.2% during the 3rd quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 25,064 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Tidewater by 53.6% in the third 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 period. Glenmede Trust Co. NA lifted its holdings in Tidewater by 3.5% in the third quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock worth $680,000 after purchasing an additional 321 shares during the period. Finally, 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 worth $2,841,000 after purchasing an additional 1,168 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tidewater news, Director Robert Robotti acquired 25,000 shares of Tidewater stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is owned by corporate insiders.

Tidewater Price Performance

TDW opened at $42.89 on Wednesday. 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 $38.65 and a 1 year high of $111.42. The stock has a fifty day moving average price of $48.22 and a 200 day moving average price of $54.97. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06.

Wall Street Analyst Weigh In

TDW has been the subject of several research reports. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and an average target price of $92.50.

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.