Assenagon Asset Management S.A. Boosts Stock Position in Tidewater Inc. (NYSE:TDW)

Assenagon Asset Management S.A. lifted its stake in shares of Tidewater Inc. (NYSE:TDW) by 59.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,725 shares of the oil and gas company’s stock after acquiring an additional 82,780 shares during the quarter. Assenagon Asset Management S.A. owned 0.43% of Tidewater worth $12,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Centiva Capital LP purchased a new stake in Tidewater during the third quarter worth approximately $958,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Tidewater in the 2nd quarter worth $1,241,000. Raymond James & Associates boosted its holdings in Tidewater by 11.9% in the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock valued at $6,725,000 after purchasing an additional 9,952 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in Tidewater by 23.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock worth $8,431,000 after acquiring an additional 29,721 shares in the last quarter. Finally, Citigroup Inc. grew its position in Tidewater by 75.2% during the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 25,064 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TDW. DNB Markets started coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 price target for the company. Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $112.00 to $68.00 in a report on Wednesday. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.60.

Tidewater Stock Up 0.7 %

NYSE:TDW opened at $55.78 on Friday. The firm has a market capitalization of $2.92 billion, a PE ratio of 16.41 and a beta of 1.06. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a 50 day moving average of $52.03 and a 200-day moving average of $70.23.

Insiders Place Their Bets

In other Tidewater news, CEO Quintin Kneen purchased 41,615 shares of Tidewater stock in a transaction on Friday, December 13th. The stock was bought at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares of the company’s stock, valued at $8,470,046.34. The trade was a 30.91 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 8.33% of the stock is owned by corporate insiders.

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.