Thrivent Financial for Lutherans Has $2.72 Million Stock Holdings in Tidewater Inc. (NYSE:TDW)

Thrivent Financial for Lutherans lowered its stake in shares of Tidewater Inc. (NYSE:TDW) by 5.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 37,924 shares of the oil and gas company’s stock after selling 2,372 shares during the period. Thrivent Financial for Lutherans’ holdings in Tidewater were worth $2,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TDW. Boston Partners raised its holdings in shares of Tidewater by 11.7% during the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after acquiring an additional 243,489 shares in the last quarter. Van ECK Associates Corp acquired a new position in Tidewater in the 3rd quarter worth about $51,089,000. Hsbc Holdings PLC raised its stake in shares of Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after purchasing an additional 639,765 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tidewater by 72.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock valued at $42,257,000 after buying an additional 185,972 shares during the last quarter. Finally, Villere ST Denis J & Co. LLC acquired a new stake in shares of Tidewater during the 3rd quarter valued at about $25,871,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.25.

Tidewater Stock Performance

Shares of NYSE TDW opened at $50.17 on Wednesday. The business’s 50-day simple moving average is $63.68 and its 200-day simple moving average is $83.19. 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 52 week low of $49.83 and a 52 week high of $111.42. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 14.76 and a beta of 1.14.

Tidewater declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 6th that authorizes the company to buyback $13.90 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.