Tidewater Inc. (NYSE:TDW) Stake Lifted by Cynosure Group LLC

Cynosure Group LLC increased its position in shares of Tidewater Inc. (NYSE:TDW) by 152.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,617 shares of the oil and gas company’s stock after buying an additional 5,810 shares during the quarter. Cynosure Group LLC’s holdings in Tidewater were worth $690,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares during the last quarter. Quarry LP bought a new stake in Tidewater during the second quarter worth approximately $27,000. Hollencrest Capital Management acquired a new position in Tidewater in the second quarter worth approximately $30,000. Headlands Technologies LLC increased its holdings in shares of Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,138 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Tidewater by 721.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,995 shares of the oil and gas company’s stock valued at $197,000 after acquiring an additional 1,752 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TDW. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price objective 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’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Trading Up 0.2 %

Shares of NYSE TDW opened at $50.27 on Thursday. 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 Inc. has a one year low of $49.83 and a one year high of $111.42. The business has a 50-day moving average price of $63.19 and a two-hundred day moving average price of $82.80. The firm has a market capitalization of $2.63 billion, a PE ratio of 14.79 and a beta of 1.14.

Tidewater declared that its Board of Directors has approved a share buyback plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.