Tidewater Inc. (NYSE:TDW) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. raised its holdings in Tidewater Inc. (NYSE:TDW) by 31.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,064 shares of the oil and gas company’s stock after purchasing an additional 963 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Tidewater were worth $292,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TDW. Vanguard Group Inc. lifted its holdings in shares of Tidewater by 25.7% during the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after purchasing an additional 985,398 shares during the period. Boston Partners lifted its stake in shares of Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after acquiring an additional 243,489 shares during the period. Van ECK Associates Corp purchased a new stake in shares of Tidewater in the third quarter valued at about $51,089,000. Hsbc Holdings PLC increased its stake in shares of Tidewater by 11,317.3% during the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after acquiring an additional 639,765 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Tidewater by 72.1% during the second quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after purchasing an additional 185,972 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on TDW. Raymond James lowered 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 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 equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

Tidewater Trading Down 4.6 %

Shares of Tidewater stock opened at $50.73 on Monday. The company has a 50-day moving average of $66.06 and a two-hundred day moving average of $85.45. Tidewater Inc. has a 12-month low of $50.69 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 cap of $2.65 billion, a PE ratio of 14.92 and a beta of 1.14.

Tidewater announced that its board has authorized a stock buyback plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are 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.