Tidewater Inc. (NYSE:TDW) Shares Bought by Thompson Siegel & Walmsley LLC

Thompson Siegel & Walmsley LLC grew its holdings in shares of Tidewater Inc. (NYSE:TDW) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 93,021 shares of the oil and gas company’s stock after purchasing an additional 2,066 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Tidewater were worth $6,678,000 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. Vanguard Group Inc. raised its position in Tidewater by 25.7% in the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after acquiring an additional 985,398 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Tidewater in the 3rd quarter worth approximately $51,089,000. Hsbc Holdings PLC lifted its stake in Tidewater by 11,317.3% during the second 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 during the last quarter. Villere ST Denis J & Co. LLC bought a new stake in Tidewater during the third quarter worth approximately $25,871,000. Finally, Boston Partners grew 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 worth $214,055,000 after buying an additional 243,489 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Tidewater Stock Up 3.9 %

NYSE:TDW opened at $52.42 on Friday. Tidewater Inc. has a 1-year low of $49.86 and a 1-year high of $111.42. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.42 and a beta of 1.14. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The business’s fifty day moving average price is $64.47 and its 200 day moving average price is $84.29.

Tidewater announced that its Board of Directors has initiated a stock buyback program 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 purchase up to 0.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are 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.