Tidewater Inc. (NYSE:TDW) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC trimmed its position in Tidewater Inc. (NYSE:TDW) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,390 shares of the oil and gas company’s stock after selling 2,418 shares during the period. River Road Asset Management LLC owned about 0.11% of Tidewater worth $3,030,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of TDW. Fortitude Family Office LLC purchased a new position in shares of Tidewater during the 4th quarter worth $33,000. AlphaQuest LLC lifted its position in Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after buying an additional 511 shares during the period. Quarry LP boosted its stake in Tidewater by 187.6% in the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after buying an additional 531 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in Tidewater in the 3rd quarter valued at about $65,000. Finally, Venturi Wealth Management LLC grew its holdings in Tidewater by 2,018.3% in the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 1,211 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Price Performance

NYSE TDW opened at $40.70 on Wednesday. Tidewater Inc. has a 12 month low of $38.65 and a 12 month high of $111.42. The firm has a market capitalization of $2.09 billion, a PE ratio of 11.97 and a beta of 1.06. The company’s 50 day simple moving average is $52.25 and its 200 day simple moving average is $58.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, DNB Markets initiated coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Activity

In other Tidewater news, Director Robert Robotti purchased 1,770 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the transaction, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. The trade was a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Quintin Kneen acquired 41,615 shares of Tidewater stock in a transaction dated Friday, December 13th. The shares were acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.33% of the company’s stock.

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.