Harbour Capital Advisors LLC Makes New $704,000 Investment in Tidewater Inc. (NYSE:TDW)

Harbour Capital Advisors LLC purchased a new position in Tidewater Inc. (NYSE:TDW) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 12,470 shares of the oil and gas company’s stock, valued at approximately $704,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. increased its holdings in shares of Tidewater by 23.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock valued at $8,431,000 after acquiring an additional 29,721 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Tidewater during the 4th quarter valued at about $33,000. Tidal Investments LLC raised its holdings in Tidewater by 8.1% in the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after buying an additional 267 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Tidewater by 30.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company’s stock worth $1,220,000 after buying an additional 3,969 shares in the last quarter. Finally, Neo Ivy Capital Management increased its position in shares of Tidewater by 22.5% during the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company’s stock valued at $994,000 after acquiring an additional 2,544 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on TDW shares. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. DNB Markets began coverage on shares of Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price target on the stock. Finally, Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $95.80.

Insider Buying and Selling

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the purchase, the chief executive officer now directly owns 176,239 shares in the company, valued at $8,470,046.34. The trade was 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 currently owned by corporate insiders.

Tidewater Price Performance

TDW stock traded down $0.19 during trading on Monday, reaching $55.27. The company’s stock had a trading volume of 665,822 shares, compared to its average volume of 1,016,527. The company’s fifty day moving average is $52.60 and its 200-day moving average is $71.42. The company has a market capitalization of $2.89 billion, a P/E ratio of 16.26 and a beta of 1.06. Tidewater Inc. has a 1 year low of $46.50 and a 1 year high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

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.