Van ECK Associates Corp Grows Stock Holdings in Tidewater Inc. (NYSE:TDW)

Van ECK Associates Corp boosted its position in Tidewater Inc. (NYSE:TDW) by 17.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 836,253 shares of the oil and gas company’s stock after acquiring an additional 124,610 shares during the period. Van ECK Associates Corp’s holdings in Tidewater were worth $45,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TDW. Pacer Advisors Inc. grew its stake in Tidewater by 42,719.6% in the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after acquiring an additional 1,390,951 shares during the period. Cerity Partners LLC grew its stake in shares of Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after buying an additional 385,779 shares during the period. Villere ST Denis J & Co. LLC purchased a new stake in shares of Tidewater during the 3rd quarter valued at $25,871,000. Harbor Capital Advisors Inc. grew its stake in shares of Tidewater by 207.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 124,391 shares of the oil and gas company’s stock valued at $8,930,000 after buying an additional 83,975 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Tidewater by 59.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 222,725 shares of the oil and gas company’s stock valued at $12,185,000 after buying an additional 82,780 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tidewater

In other news, CEO Quintin Kneen acquired 41,615 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This represents a 30.91 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.33% of the company’s stock.

Tidewater Stock Performance

NYSE:TDW opened at $54.44 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 16.01 and a beta of 1.04. The firm’s fifty day simple moving average is $53.17 and its 200 day simple moving average is $64.55. Tidewater Inc. has a twelve month low of $46.50 and a twelve month high of $111.42.

Wall Street Analysts Forecast Growth

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

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.