Northwest & Ethical Investments L.P. Takes Position in Tidewater Inc. (NYSE:TDW)

Northwest & Ethical Investments L.P. purchased a new position in Tidewater Inc. (NYSE:TDW) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 900 shares of the oil and gas company’s stock, valued at approximately $65,000.

A number of other large investors also recently modified their holdings of TDW. Van ECK Associates Corp purchased a new stake in Tidewater in the 3rd quarter worth approximately $51,089,000. Hsbc Holdings PLC increased its holdings in shares of 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 worth $60,992,000 after purchasing an additional 639,765 shares during the period. Cerity Partners LLC raised its position in shares of Tidewater by 173.4% in the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after buying an additional 385,779 shares in the last quarter. Bank of New York Mellon Corp grew its position in Tidewater by 72.1% during the second quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after buying an additional 185,972 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Tidewater by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,517 shares of the oil and gas company’s stock worth $31,194,000 after acquiring an additional 38,411 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Price Performance

TDW stock opened at $51.72 on Monday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 15.21 and a beta of 1.14. The firm’s 50-day moving average price is $61.75 and its two-hundred day moving average price is $81.82. 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 Inc. has a 12-month low of $49.83 and a 12-month high of $111.42.

Tidewater declared that its board has approved a share repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDW. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, DNB Markets initiated coverage on shares of Tidewater in a research note on Friday. They issued a “buy” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.80.

Tidewater Company 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.