Loomis Sayles & Co. L P Has $30.07 Million Stock Position in Tidewater Inc. (NYSE:TDW)

Loomis Sayles & Co. L P lowered its holdings in shares of Tidewater Inc. (NYSE:TDW) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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’s holdings in Tidewater were worth $30,068,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TDW. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $102.25.

Tidewater Stock Performance

NYSE:TDW opened at $52.16 on Tuesday. The stock has a 50 day simple moving average of $63.68 and a 200 day simple moving average of $83.19. The stock has a market cap of $2.73 billion, a P/E ratio of 15.34 and a beta of 1.14. Tidewater Inc. has a 1-year low of $49.86 and a 1-year high of $111.42. 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 has initiated a share buyback plan 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 plans are generally a sign that the company’s leadership believes its stock is 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.