Aristides Capital LLC Acquires Shares of 6,000 Tidewater Inc. (NYSE:TDW)

Aristides Capital LLC bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,000 shares of the oil and gas company’s stock, valued at approximately $328,000.

A number of other hedge funds also recently bought and sold shares of TDW. Fortitude Family Office LLC purchased a new stake in Tidewater in the 4th quarter worth approximately $33,000. AlphaQuest LLC lifted its stake in Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 511 shares during the period. Headlands Technologies LLC bought a new stake in Tidewater in the fourth quarter valued at $53,000. Quarry LP boosted its holdings 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 acquiring an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Buying and Selling at Tidewater

In related news, Director Robert Robotti purchased 25,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Stock Down 8.2 %

Shares of Tidewater stock opened at $34.65 on Monday. Tidewater Inc. has a 1 year low of $31.55 and a 1 year 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 has a 50-day moving average of $47.22 and a 200 day moving average of $54.22. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 10.19 and a beta of 1.06.

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.