Advisors Asset Management Inc. Grows Stock Holdings in Tidewater Inc. (NYSE:TDW)

Advisors Asset Management Inc. lifted its stake in shares of Tidewater Inc. (NYSE:TDW) by 58.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,510 shares of the oil and gas company’s stock after acquiring an additional 1,299 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tidewater were worth $252,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp bought a new stake in Tidewater during the 3rd quarter valued at $51,089,000. Hsbc Holdings PLC raised its holdings in shares of Tidewater by 11,317.3% in 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 acquiring an additional 639,765 shares in the last quarter. Villere ST Denis J & Co. LLC bought a new position in Tidewater during the 3rd quarter worth about $25,871,000. Boston Partners increased its position in Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after purchasing an additional 243,489 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Tidewater by 622.0% in the 2nd quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock valued at $26,406,000 after purchasing an additional 238,933 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TDW. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $131.00 to $102.00 in a 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

Tidewater Price Performance

Shares of TDW opened at $50.27 on Friday. The company has a 50 day moving average of $62.73 and a two-hundred day moving average of $82.58. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a twelve month low of $49.83 and a twelve month high of $111.42. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 14.79 and a beta of 1.14.

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