Edgestream Partners L.P. Takes Position in Tidewater Inc. (NYSE:TDW)

Edgestream Partners L.P. acquired a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,436 shares of the oil and gas company's stock, valued at approximately $2,688,000. Edgestream Partners L.P. owned 0.07% of Tidewater as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 153 shares during the period. Quarry LP purchased a new stake in Tidewater during the second quarter worth about $27,000. Hollencrest Capital Management acquired a new position in Tidewater during the second quarter worth about $30,000. Northwest & Ethical Investments L.P. purchased a new position in Tidewater in the third quarter valued at about $65,000. Finally, Headlands Technologies LLC lifted its position in shares of Tidewater by 6,322.2% during the 2nd 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 period. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Price Performance

Shares of TDW traded up $0.45 during trading hours on Tuesday, reaching $51.87. 837,392 shares of the company traded hands, compared to its average volume of 906,272. The stock has a fifty day simple moving average of $61.24 and a 200 day simple moving average of $81.25. Tidewater Inc. has a fifty-two week low of $49.83 and a fifty-two week high of $111.42. The stock has a market capitalization of $2.71 billion, a PE ratio of 15.32 and a beta of 1.10. 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 declared that its board has authorized a share repurchase plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in 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 usually an indication that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on TDW. StockNews.com raised Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. DNB Markets began coverage on Tidewater in a research note on Friday. They set a "buy" rating and a $70.00 price target for the company. Finally, Raymond James cut shares of 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 research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.80.

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.