Caisse DE Depot ET Placement DU Quebec Purchases New Position in Tidewater Inc. (NYSE:TDW)

Caisse DE Depot ET Placement DU Quebec bought a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,412 shares of the oil and gas company's stock, valued at approximately $819,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new position in Tidewater during the 2nd quarter valued at about $1,241,000. Raymond James & Associates boosted its stake in Tidewater by 11.9% during the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company's stock valued at $6,725,000 after purchasing an additional 9,952 shares during the last quarter. Comerica Bank boosted its stake in Tidewater by 2,170.4% during the 1st quarter. Comerica Bank now owns 33,398 shares of the oil and gas company's stock valued at $3,073,000 after purchasing an additional 31,927 shares during the last quarter. Public Sector Pension Investment Board acquired a new position in Tidewater during the 2nd quarter valued at about $10,171,000. Finally, Naviter Wealth LLC boosted its stake in shares of Tidewater by 48.7% in the 3rd quarter. Naviter Wealth LLC now owns 126,050 shares of the oil and gas company's stock worth $9,049,000 after buying an additional 41,256 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TDW has been the topic of several research analyst reports. DNB Markets started coverage on Tidewater in a research note on Friday, November 29th. They issued a "buy" rating and a $70.00 price objective on the stock. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Raymond James downgraded Tidewater from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Tidewater currently has a consensus rating of "Moderate Buy" and an average target price of $95.80.

Tidewater Trading Down 4.0 %

Shares of NYSE TDW traded down $2.07 during trading hours on Wednesday, hitting $49.76. The company's stock had a trading volume of 1,027,514 shares, compared to its average volume of 906,790. 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 stock has a market cap of $2.60 billion, a price-to-earnings ratio of 14.76 and a beta of 1.10. Tidewater Inc. has a 12 month low of $48.99 and a 12 month high of $111.42. The business has a 50-day simple moving average of $60.73 and a 200-day simple moving average of $80.87.

Tidewater announced that its Board of Directors has approved a stock buyback program on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Tidewater 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.