BNP Paribas Financial Markets Raises Position in Tidewater Inc. (NYSE:TDW)

BNP Paribas Financial Markets boosted its position in shares of Tidewater Inc. (NYSE:TDW) by 53.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,739 shares of the oil and gas company’s stock after buying an additional 8,978 shares during the period. BNP Paribas Financial Markets’ holdings in Tidewater were worth $1,848,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp purchased a new stake in shares of Tidewater during the third quarter worth approximately $51,089,000. Hsbc Holdings PLC boosted its stake in 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 during the last quarter. Cerity Partners LLC boosted its stake in Tidewater by 173.4% during the 3rd quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock worth $43,666,000 after purchasing an additional 385,779 shares during the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in shares of Tidewater in the third quarter valued at about $25,871,000. Finally, Principal Financial Group Inc. raised its position in shares of Tidewater by 622.0% in the second quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock valued at $26,406,000 after buying an additional 238,933 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TDW. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target for the company. Finally, StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Tidewater has an average rating of “Moderate Buy” and an average price target of $95.80.

Tidewater Trading Down 5.8 %

TDW opened at $47.00 on Friday. The business’s 50 day moving average price is $59.35 and its 200 day moving average price is $79.83. 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 stock has a market capitalization of $2.46 billion, a PE ratio of 13.82 and a beta of 1.10. Tidewater Inc. has a one year low of $46.50 and a one year high of $111.42.

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.