Tidewater Inc. (NYSE:TDW) Shares Acquired by Advisors Asset Management Inc.

Advisors Asset Management Inc. lifted its stake in shares of Tidewater Inc. (NYSE:TDW) by 58.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,510 shares of the oil and gas company’s stock after purchasing an additional 1,299 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tidewater were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. GAMMA Investing LLC lifted 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 worth $25,000 after acquiring an additional 153 shares during the period. Quarry LP acquired a new stake in shares of Tidewater during the second quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in Tidewater in the second quarter valued at approximately $30,000. Headlands Technologies LLC increased its holdings in Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying 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 worth $197,000 after buying an additional 1,752 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Shares of NYSE TDW opened at $50.27 on Friday. The company has a market capitalization of $2.63 billion, a PE ratio of 14.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company’s fifty day moving average price is $62.73 and its 200 day moving average price is $82.58. Tidewater Inc. has a 1 year low of $49.83 and a 1 year high of $111.42.

Tidewater announced that its board has approved a share 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

TDW has been the topic of a number of research reports. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.