Acadian Asset Management LLC Purchases Shares of 5,818 Tidewater Inc. (NYSE:TDW)

Acadian Asset Management LLC purchased a new stake in Tidewater Inc. (NYSE:TDW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,818 shares of the oil and gas company’s stock, valued at approximately $322,000.

Other institutional investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. boosted its position in shares of Tidewater by 15.7% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 29,652 shares of the oil and gas company’s stock valued at $1,307,000 after purchasing an additional 4,034 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Tidewater during the 1st quarter valued at about $44,000. LifePro Asset Management bought a new stake in shares of Tidewater during the 2nd quarter valued at about $4,429,000. Beirne Wealth Consulting Services LLC bought a new stake in shares of Tidewater during the 1st quarter valued at about $551,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Tidewater by 46.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,489 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 470 shares in the last quarter. Institutional investors own 84.19% of the company’s stock.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti purchased 1,486 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average cost of $67.32 per share, with a total value of $100,037.52. Following the completion of the transaction, the director now owns 3,235,657 shares of the company’s stock, valued at approximately $217,824,429.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TDW has been the topic of several research analyst reports. BTIG Research upped their target price on Tidewater from $75.00 to $91.00 and gave the company a “buy” rating in a research report on Wednesday, September 20th. StockNews.com downgraded Tidewater from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $88.67.

Tidewater Stock Performance

Shares of Tidewater stock opened at $57.77 on Friday. The company has a quick ratio of 1.65, a current ratio of 1.73 and a debt-to-equity ratio of 0.62. The company has a market cap of $3.05 billion, a PE ratio of 43.44 and a beta of 1.33. The business has a 50 day moving average price of $66.89 and a 200-day moving average price of $58.78. Tidewater Inc. has a 52 week low of $28.14 and a 52 week high of $73.55.

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 crude oil and natural 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.