Loomis Sayles & Co. L P Has $30.07 Million Position in Tidewater Inc. (NYSE:TDW)

Loomis Sayles & Co. L P trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 418,830 shares of the oil and gas company’s stock after selling 12,518 shares during the period. Loomis Sayles & Co. L P owned about 0.80% of Tidewater worth $30,068,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Tidewater by 135.4% during 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 in the last quarter. Quarry LP acquired a new position in Tidewater in the second quarter worth approximately $27,000. Hollencrest Capital Management bought a new position in Tidewater during the second quarter valued at approximately $30,000. Headlands Technologies LLC lifted its stake in 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 acquiring an additional 1,138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Tidewater by 721.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,995 shares of the oil and gas company’s stock worth $197,000 after acquiring an additional 1,752 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TDW. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Stock Performance

NYSE:TDW opened at $52.16 on Tuesday. 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 $2.73 billion, a P/E ratio of 15.34 and a beta of 1.14. Tidewater Inc. has a 1 year low of $49.86 and a 1 year high of $111.42. The firm has a 50 day moving average of $63.68 and a 200-day moving average of $83.19.

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 outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership 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.