Tribune Investment Group LP Acquires New Stake in Tidewater Inc. (NYSE:TDW)

Tribune Investment Group LP acquired a new position in shares of Tidewater Inc. (NYSE:TDW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 60,000 shares of the oil and gas company’s stock, valued at approximately $3,283,000. Tidewater comprises about 1.8% of Tribune Investment Group LP’s holdings, making the stock its 24th biggest position. Tribune Investment Group LP owned 0.11% of Tidewater as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in Tidewater by 1.9% during the third 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 in the last quarter. MML Investors Services LLC purchased a new position in shares of Tidewater during the 3rd quarter worth approximately $225,000. Barclays PLC lifted its holdings in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after buying an additional 61,487 shares during the period. Geode Capital Management LLC boosted its stake in shares of Tidewater by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock valued at $78,473,000 after buying an additional 5,713 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Tidewater by 30.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after acquiring an additional 3,969 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TDW shares. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and reduced their target price for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Trading Up 4.8 %

NYSE:TDW opened at $35.30 on Monday. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $44.48 and a 200-day simple moving average of $52.40. The company has a market capitalization of $1.82 billion, a PE ratio of 10.38 and a beta of 0.70.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti purchased 1,770 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the completion of 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 8.33% of the stock is currently owned by insiders.

Tidewater 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.