Illinois Municipal Retirement Fund Cuts Stake in Tidewater Inc. (NYSE:TDW)

Illinois Municipal Retirement Fund reduced its stake in shares of Tidewater Inc. (NYSE:TDW) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,043 shares of the oil and gas company’s stock after selling 4,850 shares during the period. Illinois Municipal Retirement Fund owned 0.05% of Tidewater worth $1,480,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TDW. Pacer Advisors Inc. lifted its holdings in shares of Tidewater by 42,719.6% during the 4th quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after acquiring an additional 1,390,951 shares during the period. Van ECK Associates Corp purchased a new position in shares of Tidewater during the 3rd quarter worth about $51,089,000. Cerity Partners LLC increased its position in Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after purchasing an additional 385,779 shares in the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in Tidewater during the 3rd quarter worth approximately $25,871,000. Finally, Empire Life Investments Inc. increased its position in Tidewater by 29.6% during the 4th quarter. Empire Life Investments Inc. now owns 380,890 shares of the oil and gas company’s stock worth $20,838,000 after purchasing an additional 87,006 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tidewater

In related news, CEO Quintin Kneen purchased 41,615 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the transaction, the chief executive officer now owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.33% of the stock is owned by corporate insiders.

Tidewater Stock Down 6.1 %

Shares of NYSE:TDW opened at $45.64 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 52-week low of $43.32 and a 52-week high of $111.42. The company has a 50 day moving average of $53.69 and a two-hundred day moving average of $61.41. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 13.42 and a beta of 1.04.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of research analyst reports. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, DNB Markets initiated coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tidewater has an average 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.