Shell Asset Management Co. Sells 704 Shares of Tidewater Inc. (NYSE:TDW)

Posted by on Mar 2nd, 2023

Shell Asset Management Co. lessened its position in shares of Tidewater Inc. (NYSE:TDW – Get Rating) by 11.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,388 shares of the oil and gas company’s stock after selling 704 shares during the period. Shell Asset Management Co.’s holdings in Tidewater were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in TDW. Bank of Montreal Can bought a new stake in shares of Tidewater during the 1st quarter worth approximately $2,413,000. Acadian Asset Management LLC bought a new position in Tidewater in the 1st quarter valued at approximately $393,000. MetLife Investment Management LLC lifted its stake in Tidewater by 24.8% in the 1st quarter. MetLife Investment Management LLC now owns 21,360 shares of the oil and gas company’s stock valued at $464,000 after purchasing an additional 4,241 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Tidewater by 12.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,075,799 shares of the oil and gas company’s stock valued at $23,388,000 after purchasing an additional 121,346 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Tidewater in the 1st quarter valued at approximately $505,000. Institutional investors own 88.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, November 7th.

Tidewater Stock Performance

Shares of TDW stock opened at $48.88 on Thursday. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of -81.47 and a beta of 1.38. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.77 and a current ratio of 1.88. The firm’s 50-day simple moving average is $41.05 and its two-hundred day simple moving average is $32.01. Tidewater Inc. has a 52 week low of $14.48 and a 52 week high of $51.65.

Tidewater Profile

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Tidewater, Inc engages in the provision of offshore marine support and transportation services to the offshore energy industry. It offers the towing of, and anchor handling for, mobile offshore drilling units, transporting supplies and personnel necessary to sustain drilling, work over and production activities, offshore construction and seismic and subsea support, geotechnical survey for wind farm construction, and a variety of specialized services such as pipe and cable laying.

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Institutional Ownership by Quarter for Tidewater (NYSE:TDW)

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