Stifel Financial Corp Reduces Position in Tidewater Inc. (NYSE:TDW)

Stifel Financial Corp decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 41.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,155 shares of the oil and gas company’s stock after selling 10,560 shares during the period. Stifel Financial Corp’s holdings in Tidewater were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of TDW. Sage Mountain Advisors LLC raised its stake in Tidewater by 4.8% during the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 120 shares during the period. Natixis Advisors LLC raised its position in shares of Tidewater by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after purchasing an additional 174 shares during the period. Xponance Inc. lifted its stake in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 279 shares in the last quarter. Quarry LP bought a new position in Tidewater in the 2nd quarter worth $27,000. Finally, Hollencrest Capital Management purchased a new stake in Tidewater in the 2nd quarter worth $30,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TDW shares. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Finally, DNB Markets began coverage on shares of Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.80.

Insider Activity

In related news, CEO Quintin Kneen purchased 41,615 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the completion of the transaction, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.33% of the company’s stock.

Tidewater Price Performance

Tidewater stock opened at $50.31 on Tuesday. Tidewater Inc. has a 52-week low of $46.50 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 firm’s fifty day moving average is $54.70 and its 200 day moving average is $75.70. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 14.80 and a beta of 1.10.

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.