Navellier & Associates Inc. Sells 564 Shares of Tidewater Inc. (NYSE:TDW)

Navellier & Associates Inc. lessened its holdings in shares of Tidewater Inc. (NYSE:TDW) by 3.9% during the 3rd quarter, Holdings Channel reports. The firm owned 13,849 shares of the oil and gas company’s stock after selling 564 shares during the period. Navellier & Associates Inc.’s holdings in Tidewater were worth $994,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Tidewater by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after buying an additional 985,398 shares during the last quarter. Van ECK Associates Corp purchased a new stake in Tidewater during the third quarter valued at approximately $51,089,000. Hsbc Holdings PLC lifted its stake in shares of Tidewater by 11,317.3% in the 2nd 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 during the last quarter. Villere ST Denis J & Co. LLC bought a new position in Tidewater during the third quarter valued at $25,871,000. Finally, Boston Partners lifted its stake in Tidewater by 11.7% in the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after purchasing an additional 243,489 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

Shares of TDW stock opened at $52.42 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.42 and a beta of 1.14. 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 twelve month low of $49.86 and a twelve month high of $111.42. The stock has a fifty day simple moving average of $64.47 and a two-hundred day simple moving average of $84.29.

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 outstanding shares. This buyback authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TDW shares. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the 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 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.