24,904 Shares in Tidewater Inc. (NYSE:TDW) Purchased by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 24,904 shares of the oil and gas company’s stock, valued at approximately $1,788,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp bought a new position in shares of Tidewater in the third quarter valued at approximately $51,089,000. Hsbc Holdings PLC boosted its stake in Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after purchasing an additional 639,765 shares in the last quarter. Villere ST Denis J & Co. LLC acquired a new position in shares of Tidewater during the 3rd quarter valued at $25,871,000. Boston Partners raised its stake in shares of Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after buying an additional 243,489 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Tidewater by 622.0% in the second quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock valued at $26,406,000 after buying an additional 238,933 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented 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 target price for the company 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 five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Trading Down 2.5 %

NYSE:TDW opened at $52.16 on Tuesday. The stock has a fifty day simple moving average of $63.68 and a 200 day simple moving average of $83.19. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 15.34 and a beta of 1.14. Tidewater Inc. has a 1-year low of $49.86 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.

Tidewater declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 6th that permits the company to repurchase $13.90 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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.