Raymond James Financial Inc. Invests $4.35 Million in Tidewater Inc. (NYSE:TDW)

Raymond James Financial Inc. acquired a new stake in Tidewater Inc. (NYSE:TDW) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 79,446 shares of the oil and gas company’s stock, valued at approximately $4,347,000.

A number of other institutional investors have also made changes to their positions in the business. Amitell Capital Pte Ltd increased its stake in Tidewater by 227.9% in the 4th quarter. Amitell Capital Pte Ltd now owns 24,459 shares of the oil and gas company’s stock valued at $1,338,000 after buying an additional 17,000 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Tidewater in the fourth quarter valued at about $7,204,000. Bank of Montreal Can raised its holdings in Tidewater by 12.9% during the fourth quarter. Bank of Montreal Can now owns 5,313 shares of the oil and gas company’s stock worth $291,000 after acquiring an additional 608 shares in the last quarter. Aristides Capital LLC acquired a new position in Tidewater during the fourth quarter valued at approximately $328,000. Finally, Russell Investments Group Ltd. grew its stake in Tidewater by 0.9% in the fourth quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company’s stock valued at $3,020,000 after purchasing an additional 496 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti acquired 25,000 shares of Tidewater stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the acquisition, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their position. The transaction 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.

Tidewater Stock Up 0.9 %

TDW opened at $36.37 on Friday. The stock’s fifty day simple moving average is $40.38 and its 200 day simple moving average is $49.97. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $111.42. The stock has a market cap of $1.87 billion, a PE ratio of 10.70 and a beta of 0.70. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

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 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.