Cerity Partners LLC Buys 385,779 Shares of Tidewater Inc. (NYSE:TDW)

Cerity Partners LLC increased its stake in Tidewater Inc. (NYSE:TDW) by 173.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 608,245 shares of the oil and gas company’s stock after acquiring an additional 385,779 shares during the period. Cerity Partners LLC’s holdings in Tidewater were worth $43,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TDW. Sei Investments Co. lifted its stake in shares of Tidewater by 106.8% in the 1st quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after acquiring an additional 7,225 shares during the last quarter. Vanguard Group Inc. raised its position 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 purchasing an additional 985,398 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Tidewater during the 1st quarter valued at approximately $28,000. Progeny 3 Inc. raised its position in Tidewater by 1.6% during the 1st quarter. Progeny 3 Inc. now owns 242,300 shares of the oil and gas company’s stock valued at $22,292,000 after purchasing an additional 3,700 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new position in Tidewater during the 1st quarter valued at approximately $1,016,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 1.9 %

TDW stock opened at $53.52 on Friday. Tidewater Inc. has a fifty-two week low of $49.86 and a fifty-two week high of $111.42. The business’s 50 day moving average price is $64.11 and its two-hundred day moving average price is $83.74. 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 company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 15.74 and a beta of 1.14.

Tidewater declared that its board has authorized a share repurchase program on Tuesday, August 6th that permits the company to buyback $13.90 million in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TDW. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, 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.