Slate Path Capital LP Decreases Stock Holdings in Tidewater Inc. (NYSE:TDW)

Slate Path Capital LP cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 90.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 62,350 shares of the oil and gas company’s stock after selling 584,650 shares during the period. Slate Path Capital LP owned about 0.12% of Tidewater worth $3,411,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Tidewater by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock worth $300,155,000 after acquiring an additional 56,919 shares during the last quarter. Robotti Robert increased its holdings in shares of Tidewater by 1.1% in the fourth quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock valued at $144,050,000 after purchasing an additional 28,083 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Tidewater by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after buying an additional 286,097 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after buying an additional 1,390,951 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake 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 worth $45,752,000 after acquiring an additional 124,610 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

NYSE TDW opened at $33.25 on Tuesday. The company has a market cap of $1.71 billion, a P/E ratio of 9.78 and a beta of 0.70. Tidewater Inc. has a 1-year low of $31.17 and a 1-year 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 50-day moving average of $41.95 and a two-hundred day moving average of $50.78.

Insider Buying and Selling

In related news, Director Robert Robotti bought 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the acquisition, the director now owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently 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.