State Board of Administration of Florida Retirement System trimmed its holdings in shares of Tidewater Inc. (NYSE:TDW – Get Rating) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,871 shares of the oil and gas company’s stock after selling 2,110 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Tidewater were worth $622,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the business. Encompass Capital Advisors LLC purchased a new stake in shares of Tidewater during the 3rd quarter worth $30,069,000. Marshall Wace LLP acquired a new position in Tidewater during the third quarter worth about $29,438,000. Price T Rowe Associates Inc. MD increased its holdings in Tidewater by 6.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 8,078,871 shares of the oil and gas company’s stock valued at $175,313,000 after buying an additional 501,582 shares in the last quarter. Element Capital Management LLC acquired a new stake in shares of Tidewater during the 3rd quarter valued at approximately $7,595,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Tidewater during the 4th quarter worth approximately $11,795,000. 88.34% of the stock is owned by institutional investors and hedge funds.
Tidewater Trading Up 0.2 %
Shares of TDW opened at $44.78 on Friday. Tidewater Inc. has a fifty-two week low of $17.51 and a fifty-two week high of $51.88. The company has a market capitalization of $2.28 billion, a PE ratio of -447.76 and a beta of 1.35. The stock has a fifty day moving average of $43.79 and a two-hundred day moving average of $39.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.84.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on Tidewater in a report on Thursday. They issued a “hold” rating on the stock.
Insider Transactions at Tidewater
In other Tidewater news, Director Robert Robotti bought 27,000 shares of Tidewater stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average price of $39.64 per share, for a total transaction of $1,070,280.00. Following the acquisition, the director now owns 3,063,645 shares of the company’s stock, valued at approximately $121,442,887.80. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 8.52% of the company’s stock.
Tidewater, Inc engages in the provision of offshore marine support and transportation services to the offshore energy industry. The firm offers the towing of, and anchor handling for, mobile offshore drilling units, transporting supplies and personnel necessary to sustain drilling, work over and production activities, offshore construction and seismic and subsea support, geotechnical survey for wind farm construction, and a variety of specialized services such as pipe and cable laying.
- Get a free copy of the StockNews.com research report on Tidewater (TDW)
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