Natixis Advisors LLC Decreases Holdings in Tidewater Inc. (NYSE:TDW)

Natixis Advisors LLC lowered its holdings in Tidewater Inc. (NYSE:TDW) by 11.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 23,586 shares of the oil and gas company’s stock after selling 2,934 shares during the quarter. Natixis Advisors LLC’s holdings in Tidewater were worth $1,694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TDW. GAMMA Investing LLC increased its stake in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares during the last quarter. Quarry LP purchased a new position in shares of Tidewater in the 2nd quarter valued at $27,000. Hollencrest Capital Management acquired a new stake in Tidewater during the 2nd quarter worth $30,000. Headlands Technologies LLC lifted its position 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 boosted its stake 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 valued at $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.

Tidewater Price Performance

Shares of NYSE:TDW opened at $52.16 on Tuesday. Tidewater Inc. has a one year low of $49.86 and a one year high of $111.42. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 15.34 and a beta of 1.14. The company has a 50-day simple moving average of $63.68 and a 200-day simple moving average of $83.19. 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 announced that its board has approved a stock buyback plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TDW shares. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.25.

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.