Tidewater Inc. (NYSE:TDW) Shares Bought by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. grew its stake in Tidewater Inc. (NYSE:TDW) by 25.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,359 shares of the oil and gas company’s stock after purchasing an additional 2,100 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Tidewater were worth $744,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC increased its holdings in Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 153 shares during the last quarter. Quarry LP bought a new stake in shares of Tidewater in the 2nd quarter valued at approximately $27,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater during the 2nd quarter valued at approximately $30,000. Headlands Technologies LLC lifted its stake in Tidewater by 6,322.2% during the second 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 last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Tidewater by 721.0% during the second 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 last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

TDW stock opened at $53.52 on Monday. Tidewater Inc. has a 1 year low of $49.86 and a 1 year high of $111.42. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.74 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock’s fifty day moving average is $64.11 and its two-hundred day moving average is $83.57.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on TDW shares. StockNews.com raised shares of 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 dropped their price objective for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Tidewater has an average rating of “Moderate Buy” and a consensus target price of $102.25.

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.