Aristides Capital LLC Acquires New Shares in Tidewater Inc. (NYSE:TDW)

Aristides Capital LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 6,000 shares of the oil and gas company’s stock, valued at approximately $328,000.

Several other hedge funds have also recently modified their holdings of TDW. Pacer Advisors Inc. lifted its stake in Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock valued at $76,277,000 after acquiring an additional 1,390,951 shares during the period. Norges Bank purchased a new position in shares of Tidewater during the fourth quarter valued at approximately $32,388,000. Villere ST Denis J & Co. LLC lifted its position in Tidewater by 35.1% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company’s stock valued at $26,633,000 after purchasing an additional 126,441 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in Tidewater by 135.6% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 219,183 shares of the oil and gas company’s stock worth $11,992,000 after purchasing an additional 126,162 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Tidewater by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company’s stock worth $45,752,000 after purchasing an additional 124,610 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

Shares of NYSE:TDW opened at $34.65 on Monday. The company has a market capitalization of $1.78 billion, a P/E ratio of 10.19 and a beta of 1.06. Tidewater Inc. has a 1-year low of $31.55 and a 1-year high of $111.42. The firm’s 50 day simple moving average is $47.22 and its two-hundred day simple moving average is $54.22. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Pickering Energy Partners downgraded 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 dropped their target price for the stock from $112.00 to $68.00 in a research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.50.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. This trade represents a 1.14 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.