Hodges Capital Management Inc. Makes New $3.42 Million Investment in Tidewater Inc. (NYSE:TDW)

Hodges Capital Management Inc. acquired a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 47,600 shares of the oil and gas company's stock, valued at approximately $3,417,000. Hodges Capital Management Inc. owned about 0.09% of Tidewater 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 holdings in shares of Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 153 shares during the period. Quarry LP purchased a new position in Tidewater during the 2nd quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in Tidewater during the 2nd quarter valued at $30,000. Northwest & Ethical Investments L.P. purchased a new stake in shares of Tidewater in the third quarter valued at $65,000. Finally, Headlands Technologies LLC boosted its position in shares of 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 worth $110,000 after buying an additional 1,138 shares during the period. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Down 5.8 %

Shares of TDW traded down $2.90 during midday trading on Friday, reaching $47.00. 1,206,202 shares of the stock were exchanged, compared to its average volume of 1,065,773. The company has a market cap of $2.46 billion, a price-to-earnings ratio of 13.82 and a beta of 1.10. The firm has a 50 day simple moving average of $59.35 and a 200-day simple moving average of $79.67. Tidewater Inc. has a 12-month low of $46.50 and a 12-month high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. DNB Markets initiated coverage on Tidewater in a research note on Friday, November 29th. They issued a "buy" rating and a $70.00 price objective for the company. Raymond James lowered shares of Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.80.

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.