Edgestream Partners L.P. Trims Stake in Tidewater Inc. (NYSE:TDW)

Edgestream Partners L.P. reduced its position in shares of Tidewater Inc. (NYSE:TDW) by 43.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,221 shares of the oil and gas company’s stock after selling 16,215 shares during the quarter. Edgestream Partners L.P.’s holdings in Tidewater were worth $1,161,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in Tidewater by 1.9% during the 3rd quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock worth $134,044,000 after purchasing an additional 35,318 shares during the period. Pacer Advisors Inc. increased its holdings 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 worth $76,277,000 after purchasing an additional 1,390,951 shares during the period. Geode Capital Management LLC increased its holdings in Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock worth $78,473,000 after purchasing an additional 5,713 shares during the period. Van ECK Associates Corp increased its holdings in shares of 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 valued at $45,752,000 after acquiring an additional 124,610 shares during the period. Finally, Cerity Partners LLC increased its holdings in shares of Tidewater by 173.4% in 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 acquiring an additional 385,779 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti acquired 1,770 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $40.95 per share, with a total value of $72,481.50. Following the transaction, the director now directly owns 2,183,670 shares of the company’s stock, valued at $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 8.33% of the company’s stock.

Tidewater Stock Up 0.9 %

Tidewater stock opened at $40.70 on Wednesday. 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 $2.09 billion, a price-to-earnings ratio of 11.97 and a beta of 1.06. Tidewater Inc. has a 1-year low of $38.65 and a 1-year high of $111.42. The business has a fifty day moving average price of $52.25 and a 200-day moving average price of $58.96.

Wall Street Analyst Weigh In

TDW has been the topic of a number of analyst reports. DNB Markets initiated coverage on Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target on the stock. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and cut their price target for the company from $112.00 to $68.00 in a report 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. Based on data from MarketBeat, the stock has an average 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.