Capital Wealth Planning LLC Takes Position in Tidewater Inc. (NYSE:TDW)

Capital Wealth Planning LLC acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,500 shares of the oil and gas company’s stock, valued at approximately $301,000.

Other large investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of Tidewater during the 4th quarter valued at about $33,000. Quarry LP boosted its position in shares of Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 531 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Tidewater during the 3rd quarter valued at about $65,000. Venturi Wealth Management LLC boosted its position in shares of Tidewater by 2,018.3% during the 4th quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock valued at $70,000 after purchasing an additional 1,211 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in shares of Tidewater during the 4th quarter valued at about $95,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

NYSE TDW opened at $45.64 on Friday. The company has a 50 day simple moving average of $53.69 and a 200-day simple moving average of $61.41. 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 $2.39 billion, a price-to-earnings ratio of 13.42 and a beta of 1.04. Tidewater Inc. has a 52-week low of $43.32 and a 52-week high of $111.42.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $112.00 to $68.00 in a research report on Wednesday, January 15th. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, DNB Markets assumed coverage on shares of Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $92.50.

Insider Transactions at Tidewater

In related news, CEO Quintin Kneen purchased 41,615 shares of Tidewater stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost 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 directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This trade represents a 30.91 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.33% of the stock is owned by insiders.

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.