Bank of New York Mellon Corp Has $21.07 Million Stake in Tidewater Inc. (NYSE:TDW)

Bank of New York Mellon Corp reduced its holdings in Tidewater Inc. (NYSE:TDW) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 385,084 shares of the oil and gas company’s stock after selling 14,338 shares during the period. Bank of New York Mellon Corp owned approximately 0.74% of Tidewater worth $21,068,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Tidal Investments LLC lifted its holdings in Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 267 shares during the period. Glenmede Trust Co. NA lifted its holdings in Tidewater by 3.5% in the third quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock valued at $680,000 after buying an additional 321 shares during the period. Tectonic Advisors LLC lifted its holdings in Tidewater by 2.3% in the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock valued at $961,000 after buying an additional 402 shares during the period. Private Advisor Group LLC increased its stake in Tidewater by 9.5% in the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 463 shares in the last quarter. Finally, Quarry LP increased 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 purchasing an additional 531 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. 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 research note on Wednesday, January 15th. DNB Markets assumed coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Stock Down 6.3 %

Shares of TDW stock opened at $40.43 on Tuesday. Tidewater Inc. has a 12-month low of $38.65 and a 12-month high of $111.42. The firm has a fifty day moving average of $52.78 and a 200-day moving average of $59.61. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.89 and a beta of 1.06. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Insider Buying and Selling

In other news, Director Robert Robotti purchased 1,770 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the purchase, the director now directly owns 2,183,670 shares in the company, valued at $89,421,286.50. The trade was a 0.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Quintin Kneen purchased 41,615 shares of the business’s stock in a transaction on Friday, December 13th. The stock was purchased at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the purchase, the chief executive officer now owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 8.33% of the stock is currently owned by corporate 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.