GSA Capital Partners LLP Acquires Shares of 3,389 Tidewater Inc. (NYSE:TDW)

GSA Capital Partners LLP bought a new position in shares of Tidewater Inc. (NYSE:TDW) during the third quarter, according to its most recent filing with the SEC. The fund bought 3,389 shares of the oil and gas company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. lifted its stake in Tidewater by 31.1% in the third quarter. Crossmark Global Holdings Inc. now owns 4,064 shares of the oil and gas company’s stock valued at $292,000 after purchasing an additional 963 shares during the last quarter. Villere ST Denis J & Co. LLC purchased a new stake in Tidewater in the 3rd quarter worth about $25,871,000. River Road Asset Management LLC raised its stake in Tidewater by 4.7% in the 3rd quarter. River Road Asset Management LLC now owns 57,808 shares of the oil and gas company’s stock valued at $4,150,000 after acquiring an additional 2,613 shares during the period. Van ECK Associates Corp purchased a new stake in Tidewater during the third quarter valued at about $51,089,000. Finally, Empire Life Investments Inc. lifted its holdings in Tidewater by 29.3% during the third quarter. Empire Life Investments Inc. now owns 293,884 shares of the oil and gas company’s stock valued at $21,098,000 after purchasing an additional 66,528 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TDW. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

Tidewater Stock Up 1.9 %

TDW opened at $53.52 on Friday. The firm has a market capitalization of $2.80 billion, a P/E ratio of 15.74 and a beta of 1.14. Tidewater Inc. has a one year low of $49.86 and a one year high of $111.42. The company has a fifty day moving average price of $64.11 and a 200-day moving average price of $83.74. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Tidewater declared that its Board of Directors has approved a stock buyback program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are 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.