Tidewater Inc. (NYSE:TDW) Shares Acquired by Citigroup Inc.

Citigroup Inc. boosted its stake in Tidewater Inc. (NYSE:TDW) by 75.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,411 shares of the oil and gas company’s stock after purchasing an additional 25,064 shares during the period. Citigroup Inc. owned approximately 0.11% of Tidewater worth $4,193,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Tidewater by 9.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,517 shares of the oil and gas company’s stock valued at $31,194,000 after acquiring an additional 38,411 shares during the period. Thompson Siegel & Walmsley LLC raised its holdings in Tidewater by 2.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 93,021 shares of the oil and gas company’s stock worth $6,678,000 after acquiring an additional 2,066 shares during the period. Landscape Capital Management L.L.C. acquired a new position in shares of Tidewater during the third quarter valued at about $904,000. Intech Investment Management LLC acquired a new position in shares of Tidewater during the third quarter valued at about $1,788,000. Finally, Advisors Asset Management Inc. increased its stake in Tidewater by 58.8% in the third quarter. Advisors Asset Management Inc. now owns 3,510 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 1,299 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Up 0.9 %

Shares of NYSE TDW opened at $51.87 on Wednesday. Tidewater Inc. has a one year low of $49.83 and a one year high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm’s 50 day simple moving average is $61.24 and its two-hundred day simple moving average is $81.25. The stock has a market capitalization of $2.71 billion, a P/E ratio of 15.26 and a beta of 1.10.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TDW shares. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $131.00 to $102.00 in a report on Monday, November 11th. DNB Markets started coverage on shares of Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective for the company. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.80.

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.