Empowered Funds LLC Boosts Position in Tidewater Inc. (NYSE:TDW)

Empowered Funds LLC grew its position in Tidewater Inc. (NYSE:TDW) by 15.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,252 shares of the oil and gas company’s stock after buying an additional 7,367 shares during the quarter. Empowered Funds LLC’s holdings in Tidewater were worth $4,038,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after acquiring an additional 985,398 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Tidewater during the 3rd quarter worth approximately $51,089,000. Hsbc Holdings PLC raised its position in shares of Tidewater by 11,317.3% during the 2nd 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 last quarter. Villere ST Denis J & Co. LLC purchased a new stake in Tidewater in the 3rd quarter valued at approximately $25,871,000. Finally, Boston Partners grew its holdings in Tidewater by 11.7% during 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 buying an additional 243,489 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TDW shares. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $131.00 to $102.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.25.

Tidewater Price Performance

TDW stock opened at $50.73 on Monday. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 14.92 and a beta of 1.14. 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 $50.69 and a 52-week high of $111.42. The stock’s fifty day simple moving average is $66.06 and its 200-day simple moving average is $85.45.

Tidewater declared that its board has approved a share buyback plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to reacquire 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 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.