Fmr LLC Decreases Position in Tidewater Inc. (NYSE:TDW)

FMR LLC lowered its position in Tidewater Inc. (NYSE:TDW - Free Report) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,297,678 shares of the oil and gas company's stock after selling 283,130 shares during the quarter. FMR LLC owned approximately 6.30% of Tidewater worth $236,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of TDW. GAMMA Investing LLC raised its position in Tidewater by 135.4% in the 2nd 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 stake in shares of Tidewater in the second quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater during the second quarter worth about $30,000. Headlands Technologies LLC grew its holdings in shares of Tidewater by 6,322.2% during the second 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Tidewater by 721.0% during the second 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 institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TDW shares. DNB Markets started coverage on Tidewater in a research report on Friday. They set a "buy" rating and a $70.00 price objective for the company. Raymond James downgraded Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Finally, StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.80.

Tidewater Price Performance

Shares of NYSE:TDW traded up $0.25 on Monday, reaching $51.97. 531,905 shares of the company were exchanged, compared to its average volume of 904,241. The company has a 50-day moving average of $61.75 and a 200-day moving average of $81.64. 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 firm has a market cap of $2.72 billion, a price-to-earnings ratio of 15.44 and a beta of 1.14. Tidewater Inc. has a 1-year low of $49.83 and a 1-year high of $111.42.

Tidewater announced that its board has initiated a share 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 repurchase up to 0.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management 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.