Harbour Capital Advisors LLC Makes New $704,000 Investment in Tidewater Inc. (NYSE:TDW)

Harbour Capital Advisors LLC purchased a new position in Tidewater Inc. (NYSE:TDW) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,470 shares of the oil and gas company’s stock, valued at approximately $704,000.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its stake in shares of 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 during the period. Fortitude Family Office LLC purchased a new position in shares of Tidewater during the 4th quarter valued at about $33,000. Tidal Investments LLC lifted its holdings in shares of Tidewater by 8.1% in the 3rd 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. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Tidewater by 30.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after buying an additional 3,969 shares during the last quarter. Finally, Neo Ivy Capital Management grew its holdings in Tidewater by 22.5% during the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock worth $994,000 after acquiring an additional 2,544 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Price Performance

TDW stock traded down $0.19 during trading on Monday, hitting $55.27. The stock had a trading volume of 665,822 shares, compared to its average volume of 1,016,527. Tidewater Inc. has a twelve month low of $46.50 and a twelve month high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The company’s 50-day moving average price is $52.60 and its two-hundred day moving average price is $71.42. The stock has a market capitalization of $2.89 billion, a P/E ratio of 16.26 and a beta of 1.06.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of recent analyst reports. Raymond James downgraded shares of 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. DNB Markets initiated coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Finally, StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.80.

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.33% of the company’s stock.

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.