Old West Investment Management LLC Invests $1.75 Million in Tidewater Inc. (NYSE:TDW)

Old West Investment Management LLC bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 32,040 shares of the oil and gas company’s stock, valued at approximately $1,753,000.

Several other institutional investors have also bought and sold shares of TDW. Fortitude Family Office LLC bought a new position in shares of Tidewater during the fourth quarter valued at $33,000. AlphaQuest LLC lifted its holdings in Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 511 shares during the last quarter. Headlands Technologies LLC acquired a new position in Tidewater in the fourth quarter valued at about $53,000. Quarry LP grew its stake 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 during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TDW shares. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Stock Performance

TDW stock opened at $34.65 on Friday. The company has a 50 day moving average price of $47.22 and a 200 day moving average price of $54.50. Tidewater Inc. has a fifty-two week low of $33.19 and a fifty-two week high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The stock has a market capitalization of $1.78 billion, a PE ratio of 10.19 and a beta of 1.06.

Insider Transactions at Tidewater

In other news, Director Robert Robotti purchased 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the acquisition, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.33% of the stock is currently owned by corporate insiders.

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.