Intech Investment Management LLC Takes Position in Tidewater Inc. (NYSE:TDW)

Intech Investment Management LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,904 shares of the oil and gas company's stock, valued at approximately $1,788,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TDW. GAMMA Investing LLC lifted its position in 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 purchasing an additional 153 shares during the last quarter. Quarry LP bought a new position in Tidewater during the second quarter valued at $27,000. Hollencrest Capital Management bought a new position in Tidewater during the second quarter valued at $30,000. Headlands Technologies LLC lifted its position in 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 valued at $110,000 after purchasing an additional 1,138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in 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 valued at $197,000 after purchasing an additional 1,752 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Stock Performance

TDW stock traded down $1.99 during trading on Tuesday, reaching $50.17. The company had a trading volume of 759,980 shares, compared to its average volume of 909,320. The firm has a 50-day simple moving average of $63.68 and a 200-day simple moving average of $83.19. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 14.76 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. Tidewater Inc. has a twelve month low of $49.83 and a twelve month high of $111.42.

Tidewater declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Raymond James lowered shares of Tidewater from a "strong-buy" rating to an "outperform" rating and lowered their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.