Tidewater Inc. (NYSE:TDW) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. reduced its position in shares of Tidewater Inc. (NYSE:TDW) by 29.0% in the 4th quarter, HoldingsChannel reports. The firm owned 151,834 shares of the oil and gas company’s stock after selling 62,141 shares during the period. Montag A & Associates Inc.’s holdings in Tidewater were worth $8,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Empire Life Investments Inc. raised its position in Tidewater by 29.6% in the fourth quarter. Empire Life Investments Inc. now owns 380,890 shares of the oil and gas company’s stock worth $20,838,000 after acquiring an additional 87,006 shares in the last quarter. Villere ST Denis J & Co. LLC increased its holdings in shares of Tidewater by 35.1% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company’s stock valued at $26,633,000 after purchasing an additional 126,441 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Tidewater by 17.5% in the fourth quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company’s stock valued at $45,752,000 after purchasing an additional 124,610 shares during the period. Bleakley Financial Group LLC purchased a new stake in Tidewater during the fourth quarter worth about $368,000. Finally, Tectonic Advisors LLC grew its position in Tidewater by 2.3% during the fourth quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock worth $961,000 after buying an additional 402 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Activity

In other news, CEO Quintin Kneen bought 41,615 shares of the stock in a transaction on 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 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 purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.33% of the company’s stock.

Tidewater Trading Up 0.1 %

Tidewater stock opened at $54.46 on Friday. The stock has a market cap of $2.85 billion, a PE ratio of 16.02 and a beta of 1.04. 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 price of $53.32 and a 200 day moving average price of $64.04. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and lowered their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $92.50.

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.