Norges Bank Acquires New Holdings in Tidewater Inc. (NYSE:TDW)

Norges Bank bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the fourth quarter, HoldingsChannel.com reports. The firm bought 592,000 shares of the oil and gas company’s stock, valued at approximately $32,388,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. boosted its position in Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock valued at $76,277,000 after purchasing an additional 1,390,951 shares in the last quarter. Villere ST Denis J & Co. LLC boosted its holdings in shares of Tidewater by 35.1% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company’s stock valued at $26,633,000 after buying an additional 126,441 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in shares of Tidewater by 135.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 219,183 shares of the oil and gas company’s stock worth $11,992,000 after buying an additional 126,162 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Tidewater by 17.5% during the 4th quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company’s stock worth $45,752,000 after acquiring an additional 124,610 shares in the last quarter. Finally, Sagil Capital LLP purchased a new stake in Tidewater during the fourth quarter valued at approximately $6,565,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Shares of TDW stock opened at $34.65 on Friday. The business has a fifty day moving average of $47.22 and a 200 day moving average of $54.36. Tidewater Inc. has a 1 year low of $33.19 and a 1 year high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 10.19 and a beta of 1.06.

Insider Activity

In other news, Director Robert Robotti bought 25,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 8.33% of the company’s stock.

Analysts Set New Price Targets

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

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.