New Age Alpha Advisors LLC Purchases Shares of 2,796 Tidewater Inc. (NYSE:TDW)

New Age Alpha Advisors LLC acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,796 shares of the oil and gas company’s stock, valued at approximately $153,000.

Several other institutional investors and hedge funds also recently made changes to their positions in TDW. Fortitude Family Office LLC bought a new position in Tidewater during the 4th quarter valued at about $33,000. AlphaQuest LLC raised its stake in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after acquiring an additional 511 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 acquiring an additional 531 shares in the last quarter. EverSource Wealth Advisors LLC grew 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 worth $58,000 after acquiring an additional 333 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Tidewater by 2,018.3% during 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 purchasing an additional 1,211 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TDW. Evercore ISI cut 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 report on Wednesday, January 15th. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report 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. Based on data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Insider Buying and Selling at Tidewater

In other Tidewater news, Director Robert Robotti purchased 1,770 shares of the company’s stock in a transaction that occurred on 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 completion of the purchase, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This represents a 0.08 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.33% of the company’s stock.

Tidewater Price Performance

Tidewater stock opened at $43.34 on Thursday. The business’s 50-day simple moving average is $47.99 and its 200 day simple moving average is $54.89. 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 $2.23 billion, a price-to-earnings ratio of 12.75 and a beta of 1.06. Tidewater Inc. has a 12-month low of $38.65 and a 12-month high of $111.42.

About Tidewater

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.