Diametric Capital LP Takes $331,000 Position in Tidewater Inc. (NYSE:TDW)

Diametric Capital LP bought a new stake in shares of Tidewater Inc. (NYSE:TDW) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,046 shares of the oil and gas company’s stock, valued at approximately $331,000.

A number of other hedge funds have also recently modified their holdings of the stock. Centiva Capital LP purchased a new stake in Tidewater during the third quarter worth $958,000. Hodges Capital Management Inc. raised its holdings in Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock valued at $5,288,000 after acquiring an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Tidewater by 23.9% during 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 buying an additional 29,721 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Tidewater by 75.2% in the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock valued at $4,193,000 after purchasing an additional 25,064 shares during the period. Finally, Barclays PLC grew its stake in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after buying an additional 61,487 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

TDW stock opened at $42.89 on Wednesday. The business has a 50 day moving average price of $48.22 and a 200 day moving average price of $54.97. 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 $2.21 billion, a price-to-earnings ratio of 12.61 and a beta of 1.06. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TDW shares. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Tidewater has an average rating of “Moderate Buy” and an average target price of $92.50.

Insider Transactions at Tidewater

In other news, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $40.95 per share, with a total value of $72,481.50. Following the acquisition, the director now owns 2,183,670 shares of the company’s stock, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 8.33% of the company’s stock.

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.