Tidewater Inc. (NYSE:TDW) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in shares of Tidewater Inc. (NYSE:TDW) by 71.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,913 shares of the oil and gas company’s stock after selling 4,705 shares during the period. Exchange Traded Concepts LLC’s holdings in Tidewater were worth $105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TDW. Quarry LP acquired a new position in shares of Tidewater during the second quarter valued at approximately $27,000. Fortitude Family Office LLC purchased a new stake in shares of Tidewater during the fourth quarter worth approximately $33,000. GAMMA Investing LLC raised its stake in Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after purchasing an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Tidewater in the 3rd quarter valued at $65,000. Finally, FNY Investment Advisers LLC acquired a new stake in Tidewater during the 4th quarter worth $95,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tidewater

In other news, CEO Quintin Kneen bought 41,615 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were 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 in the company, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TDW shares. DNB Markets began coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price target on the stock. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Raymond James downgraded Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $131.00 to $102.00 in a research 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, Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.60.

Tidewater Price Performance

TDW stock opened at $55.14 on Friday. 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 stock has a market cap of $2.89 billion, a price-to-earnings ratio of 16.22 and a beta of 1.06. The business has a fifty day moving average of $52.55 and a two-hundred day moving average of $67.27.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The firm had revenue of $340.36 million during the quarter, compared to the consensus estimate of $339.65 million. During the same period last year, the company earned $0.77 EPS. As a group, research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

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.