Independent Advisor Alliance Takes $591,000 Position in Tidewater Inc. (NYSE:TDW)

Independent Advisor Alliance bought a new stake in shares of Tidewater Inc. (NYSE:TDW) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 8,237 shares of the oil and gas company’s stock, valued at approximately $591,000.

Several other hedge funds have also recently made changes to their positions in the business. Sage Mountain Advisors LLC raised its position in shares of Tidewater by 4.8% during the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after buying an additional 120 shares in the last quarter. GAMMA Investing LLC grew its holdings in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares during the last quarter. Natixis Advisors LLC grew its holdings in Tidewater by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after purchasing an additional 174 shares during the last quarter. Xponance Inc. grew its holdings in Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after purchasing an additional 279 shares during the last quarter. Finally, Quarry LP bought a new position in Tidewater during the 2nd quarter valued at about $27,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Tidewater stock opened at $50.27 on Thursday. The company has a 50 day moving average price of $63.19 and a 200-day moving average price of $82.80. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a fifty-two week low of $49.83 and a fifty-two week high of $111.42. The company has a market capitalization of $2.63 billion, a PE ratio of 14.90 and a beta of 1.14.

Tidewater declared that its Board of Directors has initiated a stock buyback program 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 repurchase up to 0.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

TDW has been the topic of several analyst reports. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price target for the company from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Tidewater presently has a consensus rating of “Moderate Buy” and an average target price 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.