Tidewater Inc. (NYSE:TDW) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. grew its holdings in shares of Tidewater Inc. (NYSE:TDW) by 25.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,359 shares of the oil and gas company’s stock after purchasing an additional 2,100 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Tidewater were worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sage Mountain Advisors LLC raised its position in shares of Tidewater by 4.8% during the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after buying an additional 120 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the period. Natixis Advisors LLC raised its holdings in Tidewater by 0.7% during the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after purchasing an additional 174 shares in the last quarter. Xponance Inc. lifted its position in Tidewater by 9.9% in the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock worth $294,000 after purchasing an additional 279 shares during the period. Finally, Quarry LP bought a new position in Tidewater during the 2nd quarter valued at $27,000. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Tidewater Price Performance

Shares of NYSE:TDW opened at $53.52 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a market capitalization of $2.80 billion, a PE ratio of 15.74 and a beta of 1.14. The stock has a fifty day moving average of $64.11 and a 200-day moving average of $83.57. Tidewater Inc. has a one year low of $49.86 and a one year high of $111.42.

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

Tidewater 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.