Loomis Sayles & Co. L P Has $21 Million Stake in Tidewater Inc. (NYSE:TDW)

Loomis Sayles & Co. L P trimmed its position in Tidewater Inc. (NYSE:TDW) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 383,887 shares of the oil and gas company’s stock after selling 34,943 shares during the period. Loomis Sayles & Co. L P owned approximately 0.73% of Tidewater worth $21,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Sagil Capital LLP bought a new position in Tidewater in the fourth quarter valued at $6,565,000. Robotti Robert boosted its stake in shares of Tidewater by 1.1% during the 4th quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock worth $144,050,000 after buying an additional 28,083 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tidewater by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock valued at $300,155,000 after acquiring an additional 56,919 shares in the last quarter. LPL Financial LLC increased its position in shares of Tidewater by 23.2% in the fourth quarter. LPL Financial LLC now owns 6,944 shares of the oil and gas company’s stock valued at $380,000 after acquiring an additional 1,309 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Tidewater in the fourth quarter valued at about $131,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert Robotti bought 25,000 shares of Tidewater stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the acquisition, the director now owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TDW shares. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price target for the company. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Evercore ISI downgraded shares of Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Stock Performance

Shares of NYSE TDW opened at $43.41 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $2.23 billion, a P/E ratio of 12.77 and a beta of 1.06. Tidewater Inc. has a 12 month low of $38.65 and a 12 month high of $111.42. The stock has a 50 day moving average of $48.75 and a 200-day moving average of $55.57.

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 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.