Cerity Partners LLC Boosts Stake in Tidewater Inc. (NYSE:TDW)

Cerity Partners LLC raised its holdings in shares of Tidewater Inc. (NYSE:TDW) by 173.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 608,245 shares of the oil and gas company’s stock after buying an additional 385,779 shares during the quarter. Cerity Partners LLC owned about 1.16% of Tidewater worth $43,666,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Citigroup Inc. grew its position in Tidewater by 75.2% during the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 25,064 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 worth $31,194,000 after buying an additional 38,411 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in Tidewater by 2.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 93,021 shares of the oil and gas company’s stock worth $6,678,000 after buying an additional 2,066 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Tidewater during the third quarter worth about $904,000. Finally, Intech Investment Management LLC purchased a new position in Tidewater during the third quarter worth about $1,788,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Price Performance

TDW opened at $53.52 on Friday. The stock has a 50-day moving average price of $64.11 and a 200-day moving average price of $83.74. Tidewater Inc. has a 12-month low of $49.86 and a 12-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. The stock has a market capitalization of $2.80 billion, a P/E ratio of 15.74 and a beta of 1.14.

Tidewater announced that its board has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.25.

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.