ExodusPoint Capital Management LP Grows Position in Tidewater Inc. (NYSE:TDW)

ExodusPoint Capital Management LP grew its stake in Tidewater Inc. (NYSE:TDW) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 616,272 shares of the oil and gas company’s stock after buying an additional 15,924 shares during the period. ExodusPoint Capital Management LP owned 1.17% of Tidewater worth $34,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TDW. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Tidewater in the 1st quarter worth approximately $44,000. Tower Research Capital LLC TRC raised its holdings in shares of Tidewater by 36.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock worth $45,000 after purchasing an additional 270 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Tidewater by 59.9% during the first quarter. Nisa Investment Advisors LLC now owns 1,094 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 410 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in Tidewater during the third quarter valued at $51,000. Finally, Strs Ohio purchased a new stake in Tidewater in the first quarter valued at $52,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti bought 1,486 shares of the firm’s stock in a transaction dated Thursday, September 7th. The shares were purchased at an average price of $67.32 per share, for a total transaction of $100,037.52. Following the transaction, the director now directly owns 3,235,657 shares of the company’s stock, valued at approximately $217,824,429.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.59% of the stock is currently owned by insiders.

Tidewater Price Performance

Shares of TDW stock traded up $0.34 during mid-day trading on Monday, hitting $58.11. 224,778 shares of the stock were exchanged, compared to its average volume of 817,290. Tidewater Inc. has a 52-week low of $28.14 and a 52-week high of $73.55. 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 $3.07 billion, a PE ratio of 43.44 and a beta of 1.33. The firm has a fifty day moving average of $66.89 and a 200 day moving average of $58.92.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. BTIG Research boosted their price target on Tidewater from $75.00 to $91.00 and gave the company a “buy” rating in a report on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.67.

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 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.