Citigroup Inc. Increases Stock Position in Tidewater Inc. (NYSE:TDW)

Citigroup Inc. lifted its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 75.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,411 shares of the oil and gas company's stock after buying an additional 25,064 shares during the period. Citigroup Inc. owned about 0.11% of Tidewater worth $4,193,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC boosted 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 position in shares of Tidewater during the 2nd quarter worth about $27,000. Hollencrest Capital Management purchased a new position in shares of Tidewater during the 2nd quarter worth about $30,000. Headlands Technologies LLC boosted its stake 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 worth $110,000 after purchasing an additional 1,138 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Tidewater by 721.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,995 shares of the oil and gas company's stock worth $197,000 after purchasing an additional 1,752 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on TDW shares. Raymond James cut shares of Tidewater from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. DNB Markets initiated coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a "buy" rating and a $70.00 price objective for the company. 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 stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.80.

Tidewater Stock Down 4.0 %

Shares of TDW traded down $2.07 during mid-day trading on Wednesday, hitting $49.76. The company's stock had a trading volume of 1,027,514 shares, compared to its average volume of 906,790. The company's 50-day moving average is $60.73 and its 200-day moving average is $80.87. Tidewater Inc. has a 52-week low of $48.99 and a 52-week high of $111.42. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 14.76 and a beta of 1.10. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Tidewater announced that its Board of Directors has authorized a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

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.