Public Sector Pension Investment Board Decreases Stake in Tidewater Inc. (NYSE:TDW)

Public Sector Pension Investment Board lessened its stake in shares of Tidewater Inc. (NYSE:TDW) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,425 shares of the oil and gas company’s stock after selling 4,400 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.20% of Tidewater worth $7,353,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TDW. GAMMA Investing LLC boosted its position in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 153 shares during the period. Quarry LP purchased a new stake in shares of Tidewater during the second quarter worth about $27,000. Hollencrest Capital Management bought a new stake in shares of Tidewater in the second quarter worth about $30,000. Headlands Technologies LLC increased its holdings in Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in 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 purchasing an additional 1,752 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

TDW opened at $51.76 on Friday. 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 company has a market cap of $2.71 billion, a price-to-earnings ratio of 15.22 and a beta of 1.14. The stock has a fifty day simple moving average of $62.23 and a two-hundred day simple moving average of $82.35. Tidewater Inc. has a 12-month low of $49.83 and a 12-month high of $111.42.

Tidewater declared that its Board of Directors has initiated a share repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

TDW has been the topic of a number of recent analyst reports. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, DNB Markets began coverage on shares of Tidewater in a report on Friday. They issued a “buy” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Tidewater has an average rating of “Moderate Buy” and a consensus target price of $95.80.

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.