Tidewater Inc. (NYSE:TDW) Shares Acquired by Cynosure Group LLC

Cynosure Group LLC boosted its position in Tidewater Inc. (NYSE:TDW) by 152.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,617 shares of the oil and gas company’s stock after buying an additional 5,810 shares during the quarter. Cynosure Group LLC’s holdings in Tidewater were worth $690,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TDW. GAMMA Investing LLC lifted its position in shares of Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after buying an additional 153 shares during the last quarter. Quarry LP acquired a new stake in Tidewater during the second quarter worth about $27,000. Hollencrest Capital Management bought a new position in Tidewater in the second quarter worth about $30,000. Headlands Technologies LLC boosted its stake in Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,138 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of 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 valued at $197,000 after purchasing an additional 1,752 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of TDW stock opened at $50.27 on Thursday. Tidewater Inc. has a 12-month low of $49.83 and a 12-month high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 14.79 and a beta of 1.14. The business has a 50 day simple moving average of $63.19 and a 200 day simple moving average of $82.80.

Tidewater declared that its Board of Directors 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 purchase up to 0.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TDW. Raymond James downgraded Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price target 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 research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.