MML Investors Services LLC Buys New Position in Tidewater Inc. (NYSE:TDW)

MML Investors Services LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,129 shares of the oil and gas company’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of Tidewater during the second quarter worth $27,000. Hollencrest Capital Management acquired a new stake in Tidewater during the 2nd quarter worth about $30,000. GAMMA Investing LLC raised its position in shares of Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock worth $50,000 after acquiring an additional 435 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in shares of Tidewater in the 3rd quarter valued at about $65,000. Finally, Headlands Technologies LLC lifted its stake in shares of Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling at Tidewater

In related news, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. This trade represents a 30.91 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research analyst reports. DNB Markets began coverage on Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.80.

Tidewater Price Performance

Shares of NYSE:TDW opened at $50.85 on Friday. Tidewater Inc. has a twelve month low of $46.50 and a twelve month high of $111.42. The stock’s 50 day moving average is $53.92 and its 200-day moving average is $75.05. 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 has a market capitalization of $2.66 billion, a price-to-earnings ratio of 14.96 and a beta of 1.10.

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.