Wells Fargo & Company MN Lowers Stock Holdings in Tidewater Inc. (NYSE:TDW)

Wells Fargo & Company MN lessened its holdings in shares of Tidewater Inc. (NYSE:TDW) by 31.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 68,508 shares of the oil and gas company’s stock after selling 31,202 shares during the quarter. Wells Fargo & Company MN owned approximately 0.13% of Tidewater worth $3,748,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Fortitude Family Office LLC acquired a new position in shares of Tidewater in the 4th quarter valued at $33,000. AlphaQuest LLC raised its position in shares of Tidewater by 177.4% in the 4th 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. Headlands Technologies LLC acquired a new position in Tidewater in the fourth quarter valued at $53,000. EverSource Wealth Advisors LLC grew its position in Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after acquiring an additional 333 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Tidewater by 2,018.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock worth $70,000 after acquiring an additional 1,211 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Robotti acquired 25,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the acquisition, the director now directly owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. This represents a 1.14 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TDW. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Tidewater Price Performance

Shares of NYSE TDW opened at $33.85 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $111.42. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.96 and a beta of 0.70. The business has a 50-day moving average of $41.54 and a 200-day moving average of $50.67.

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.