Thompson Siegel & Walmsley LLC Raises Position in Tidewater Inc. (NYSE:TDW)

Thompson Siegel & Walmsley LLC boosted its holdings in Tidewater Inc. (NYSE:TDW) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,021 shares of the oil and gas company’s stock after purchasing an additional 2,066 shares during the quarter. Thompson Siegel & Walmsley LLC owned approximately 0.18% of Tidewater worth $6,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Sage Mountain Advisors LLC grew its stake in 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 valued at $251,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC grew its position 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 worth $25,000 after buying an additional 153 shares in the last quarter. Natixis Advisors LLC grew its position in shares of 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 buying an additional 174 shares in the last quarter. Xponance Inc. increased its stake in shares of 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 buying an additional 279 shares during the last quarter. Finally, Quarry LP acquired a new stake in Tidewater in the second quarter valued at $27,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Trading Up 3.9 %

NYSE TDW opened at $52.42 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a one year low of $49.86 and a one year high of $111.42. The company has a 50-day simple moving average of $64.47 and a 200-day simple moving average of $84.29. The firm has a market capitalization of $2.74 billion, a PE ratio of 15.42 and a beta of 1.14.

Tidewater declared that its Board of Directors has initiated 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 buy up to 0.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

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.