Northwest & Ethical Investments L.P. Invests $65,000 in Tidewater Inc. (NYSE:TDW)

Northwest & Ethical Investments L.P. acquired a new position in Tidewater Inc. (NYSE:TDW) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 900 shares of the oil and gas company’s stock, valued at approximately $65,000.

Other large investors have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Tidewater in the 2nd quarter worth about $1,241,000. Raymond James & Associates grew its holdings in Tidewater by 11.9% in the third quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock worth $6,725,000 after purchasing an additional 9,952 shares during the period. Comerica Bank increased its stake in shares of Tidewater by 2,170.4% during the first quarter. Comerica Bank now owns 33,398 shares of the oil and gas company’s stock valued at $3,073,000 after purchasing an additional 31,927 shares in the last quarter. Public Sector Pension Investment Board purchased a new position in shares of Tidewater during the second quarter valued at approximately $10,171,000. Finally, Naviter Wealth LLC boosted its position in shares of Tidewater by 48.7% in the 3rd quarter. Naviter Wealth LLC now owns 126,050 shares of the oil and gas company’s stock worth $9,049,000 after purchasing an additional 41,256 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TDW shares. DNB Markets initiated coverage on Tidewater in a research note on Friday. They set a “buy” rating and a $70.00 price objective for the company. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective 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 six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

Tidewater Price Performance

TDW stock opened at $51.72 on Monday. 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’s fifty day moving average price is $61.75 and its 200-day moving average price is $81.82. Tidewater Inc. has a one year low of $49.83 and a one year high of $111.42. The company has a market capitalization of $2.71 billion, a PE ratio of 15.21 and a beta of 1.14.

Tidewater declared that its board has approved a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to reacquire 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 shares are undervalued.

About Tidewater

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.