Tidewater Inc. (NYSE:TDW) Shares Acquired by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. increased its stake in shares of Tidewater Inc. (NYSE:TDW) by 31.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,064 shares of the oil and gas company’s stock after buying an additional 963 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Tidewater were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares during the last quarter. Quarry LP acquired a new position in Tidewater in the 2nd quarter valued at about $27,000. Transcendent Capital Group LLC purchased a new position in Tidewater in the 1st quarter valued at about $28,000. Hollencrest Capital Management purchased a new position in Tidewater in the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC boosted its stake in shares of Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after purchasing an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TDW shares. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $131.00 to $102.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Price Performance

Shares of Tidewater stock opened at $50.73 on Monday. The business’s fifty day moving average price is $66.06 and its 200 day moving average price is $85.45. Tidewater Inc. has a twelve month low of $50.69 and a twelve month high of $111.42. 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 stock has a market capitalization of $2.65 billion, a P/E ratio of 14.92 and a beta of 1.14.

Tidewater declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.