Tidewater Inc. (NYSE:TDW) Position Decreased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its holdings in Tidewater Inc. (NYSE:TDW) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,924 shares of the oil and gas company’s stock after selling 2,372 shares during the period. Thrivent Financial for Lutherans owned about 0.07% of Tidewater worth $2,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC grew its position in Tidewater by 135.4% in the second 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 bought a new stake in shares of Tidewater during the 2nd quarter worth $27,000. Hollencrest Capital Management bought a new stake in shares of Tidewater during the 2nd quarter worth $30,000. Headlands Technologies LLC grew its holdings in shares of Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,138 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position 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 worth $197,000 after purchasing an additional 1,752 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on TDW. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $131.00 to $102.00 in a research 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 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.25.

Tidewater Stock Performance

Shares of Tidewater stock opened at $50.17 on Wednesday. Tidewater Inc. has a 12 month low of $49.83 and a 12 month high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.63 billion, a PE ratio of 14.76 and a beta of 1.14. The business has a fifty day simple moving average of $63.68 and a 200-day simple moving average of $83.19.

Tidewater declared that its board has authorized a stock buyback 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 reacquire up to 0.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.