Emerald Advisers LLC Sells 10,913 Shares of Tidewater Inc. (NYSE:TDW)

Emerald Advisers LLC reduced its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 254,124 shares of the oil and gas company’s stock after selling 10,913 shares during the period. Emerald Advisers LLC owned approximately 0.49% of Tidewater worth $13,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TDW. Fortitude Family Office LLC acquired a new position in Tidewater during the 4th quarter valued at about $33,000. AlphaQuest LLC increased its position in Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 511 shares in the last quarter. Quarry LP increased its position in Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after buying an additional 531 shares in the last quarter. 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 buying an additional 333 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. acquired a new position in Tidewater during the 3rd quarter valued at about $65,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TDW. DNB Markets started 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. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and dropped their price target for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Tidewater has an average rating of “Moderate Buy” and a consensus target price of $92.50.

Insider Transactions at Tidewater

In related news, Director Robert Robotti bought 1,770 shares of the stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the purchase, the director now directly owns 2,183,670 shares of the company’s stock, valued at $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.33% of the company’s stock.

Tidewater Stock Down 2.0 %

Tidewater stock opened at $42.04 on Friday. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a market cap of $2.16 billion, a PE ratio of 12.36 and a beta of 1.06. The business’s 50-day simple moving average is $49.91 and its two-hundred day simple moving average is $56.56.

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.