Cerity Partners LLC Sells 72,383 Shares of Tidewater Inc. (NYSE:TDW)

Cerity Partners LLC lowered its stake in shares of Tidewater Inc. (NYSE:TDW) by 11.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 535,862 shares of the oil and gas company’s stock after selling 72,383 shares during the quarter. Cerity Partners LLC’s holdings in Tidewater were worth $29,317,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. Fortitude Family Office LLC purchased a new stake in shares of Tidewater during the fourth quarter valued at about $33,000. AlphaQuest LLC raised its stake in shares of Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 511 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Tidewater during the fourth quarter valued at approximately $53,000. Quarry LP boosted its stake in Tidewater by 187.6% in the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Tidewater by 45.5% in 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 last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Down 7.5 %

Shares of TDW stock opened at $32.82 on Wednesday. Tidewater Inc. has a 1-year low of $32.37 and a 1-year high of $111.42. The firm has a market cap of $1.69 billion, a PE ratio of 9.65 and a beta of 0.70. The company has a 50-day moving average of $46.00 and a two-hundred day moving average of $53.49. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of research analyst reports. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Insider Transactions at Tidewater

In other news, Director Robert Robotti bought 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now 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 SEC, which is available at the SEC website. Company 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.