Pecaut & CO. Decreases Stake in Tidewater Inc. (NYSE:TDW)

Pecaut & CO. cut its position in shares of Tidewater Inc. (NYSE:TDW) by 48.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the oil and gas company’s stock after selling 14,000 shares during the period. Pecaut & CO.’s holdings in Tidewater were worth $821,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Tejara Capital Ltd purchased a new position in Tidewater during the fourth quarter worth about $2,167,000. Cibc World Markets Corp purchased a new position in Tidewater during the fourth quarter worth about $250,000. Commonwealth Equity Services LLC purchased a new position in Tidewater during the fourth quarter worth about $293,000. Thompson Siegel & Walmsley LLC raised its stake in Tidewater by 135.6% during 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 period. Finally, EverSource Wealth Advisors LLC raised its stake in 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 purchasing an additional 333 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Up 1.6 %

Shares of TDW stock opened at $43.00 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market capitalization of $2.21 billion, a P/E ratio of 12.65 and a beta of 1.06. The company has a 50 day moving average price of $50.18 and a 200 day moving average price of $57.05. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42.

Insider Activity at Tidewater

In other news, Director Robert Robotti purchased 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the acquisition, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 8.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. DNB Markets assumed coverage on shares of Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.