Wittenberg Investment Management Inc. Has $1.63 Million Holdings in Tidewater Inc. (NYSE:TDW)

Wittenberg Investment Management Inc. trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 4.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 29,452 shares of the oil and gas company’s stock after selling 1,500 shares during the period. Wittenberg Investment Management Inc.’s holdings in Tidewater were worth $1,633,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cookson Peirce & Co. Inc. grew its stake in shares of Tidewater by 15.7% during the first quarter. Cookson Peirce & Co. Inc. now owns 29,652 shares of the oil and gas company’s stock worth $1,307,000 after buying an additional 4,034 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Tidewater in the 1st quarter worth about $44,000. LifePro Asset Management bought a new position in Tidewater in the second quarter valued at about $4,429,000. Beirne Wealth Consulting Services LLC acquired a new stake in shares of Tidewater during the first quarter valued at about $551,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Tidewater by 46.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,489 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 470 shares during the last quarter. 84.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Tidewater

In related news, Director Robert Robotti purchased 1,486 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average price of $67.32 per share, with a total value of $100,037.52. Following the acquisition, 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 available at this link. Corporate insiders own 9.59% of the company’s stock.

Tidewater Stock Down 1.1 %

Shares of TDW traded down $0.65 during trading hours on Tuesday, reaching $56.33. 40,060 shares of the stock traded hands, compared to its average volume of 816,417. Tidewater Inc. has a 52 week low of $28.59 and a 52 week high of $73.55. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 42.84 and a beta of 1.33. The stock has a fifty day simple moving average of $66.62 and a 200 day simple moving average of $59.03. The company has a current ratio of 1.73, a quick ratio of 1.65 and a debt-to-equity ratio of 0.62.

Wall Street Analysts Forecast Growth

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

Tidewater 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.