Natixis Advisors LLC Trims Stake in Tidewater Inc. (NYSE:TDW)

Natixis Advisors LLC cut its holdings in shares of Tidewater Inc. (NYSE:TDW) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,586 shares of the oil and gas company’s stock after selling 2,934 shares during the quarter. Natixis Advisors LLC’s holdings in Tidewater were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky purchased a new position in Tidewater during the second quarter worth about $1,241,000. Raymond James & Associates boosted its position in shares of Tidewater by 11.9% during the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock worth $6,725,000 after purchasing an additional 9,952 shares during the period. Comerica Bank increased its holdings in Tidewater by 2,170.4% in the 1st quarter. Comerica Bank now owns 33,398 shares of the oil and gas company’s stock valued at $3,073,000 after purchasing an additional 31,927 shares during the last quarter. Boston Partners raised its position in Tidewater by 11.7% in the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after purchasing an additional 243,489 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in Tidewater during the second quarter worth $10,171,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TDW. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Stock Down 2.5 %

Tidewater stock opened at $52.16 on Tuesday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 15.34 and a beta of 1.14. The stock’s fifty day simple moving average is $63.68 and its 200-day simple moving average is $83.19. Tidewater Inc. has a twelve month low of $49.86 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.

Tidewater announced that its Board of Directors has approved a share buyback 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 generally an indication that the company’s management 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.