Naviter Wealth LLC Sells 63,073 Shares of Tidewater Inc. $TDW

Naviter Wealth LLC lessened its position in Tidewater Inc. (NYSE:TDW) by 34.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 119,153 shares of the oil and gas company’s stock after selling 63,073 shares during the period. Tidewater comprises approximately 0.7% of Naviter Wealth LLC’s holdings, making the stock its 23rd biggest holding. Naviter Wealth LLC’s holdings in Tidewater were worth $6,354,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Blume Capital Management Inc. lifted its holdings in Tidewater by 128.3% during the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after buying an additional 413 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Tidewater by 4,245.0% during the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after buying an additional 849 shares in the last quarter. Bogart Wealth LLC boosted its holdings in shares of Tidewater by 28.6% in the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 200 shares in the last quarter. Finally, CWM LLC grew its position in Tidewater by 83.6% during the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 422 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TDW shares. Evercore cut their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.50.

Insiders Place Their Bets

In other news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $70.01, for a total transaction of $700,100.00. Following the transaction, the executive vice president directly owned 65,986 shares of the company’s stock, valued at $4,619,679.86. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 6.60% of the company’s stock.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $69.86 on Friday. The firm’s 50 day simple moving average is $57.88 and its 200 day simple moving average is $55.85. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $71.57. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.52 and a beta of 0.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79.

Tidewater Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.