Loomis Sayles & Co. L P Sells 12,518 Shares of Tidewater Inc. (NYSE:TDW)

Loomis Sayles & Co. L P lessened its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 2.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 418,830 shares of the oil and gas company's stock after selling 12,518 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.80% of Tidewater worth $30,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp bought a new stake in shares of Tidewater in the 3rd quarter valued at $51,089,000. Hsbc Holdings PLC boosted its position in Tidewater by 11,317.3% during the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company's stock valued at $60,992,000 after acquiring an additional 639,765 shares during the last quarter. Cerity Partners LLC grew its holdings in Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company's stock worth $43,666,000 after acquiring an additional 385,779 shares during the period. Villere ST Denis J & Co. LLC bought a new position in shares of Tidewater in the 3rd quarter worth about $25,871,000. Finally, Boston Partners lifted its stake in shares of Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company's stock valued at $214,055,000 after purchasing an additional 243,489 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on TDW shares. Raymond James cut Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $102.25.

Tidewater Stock Down 3.8 %

NYSE:TDW traded down $1.99 on Tuesday, hitting $50.17. The stock had a trading volume of 759,980 shares, compared to its average volume of 909,320. 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 Inc. has a 52 week low of $49.83 and a 52 week high of $111.42. The business's fifty day moving average is $63.68 and its 200 day moving average is $83.19. The company has a market cap of $2.63 billion, a PE ratio of 14.76 and a beta of 1.14.

Tidewater declared that its board has authorized a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are 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.