Royce & Associates LP Cuts Stock Holdings in Tidewater Inc. (NYSE:TDW)

Royce & Associates LP lowered its stake in shares of Tidewater Inc. (NYSE:TDW) by 49.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,250 shares of the oil and gas company’s stock after selling 14,750 shares during the quarter. Royce & Associates LP’s holdings in Tidewater were worth $1,095,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sei Investments Co. raised its holdings in shares of Tidewater by 106.8% in the first quarter. Sei Investments Co. now owns 13,987 shares of the oil and gas company’s stock valued at $1,287,000 after purchasing an additional 7,225 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Tidewater by 24.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,871 shares of the oil and gas company’s stock worth $1,552,000 after buying an additional 3,300 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after buying an additional 985,398 shares in the last quarter. CreativeOne Wealth LLC purchased a new position in shares of Tidewater in the 1st quarter worth approximately $542,000. Finally, Pinnbrook Capital Management LP purchased a new stake in shares of Tidewater during the first quarter valued at approximately $8,130,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Down 0.6 %

Shares of NYSE TDW opened at $50.68 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The stock has a market capitalization of $2.65 billion, a PE ratio of 14.91 and a beta of 1.14. Tidewater Inc. has a one year low of $50.14 and a one year high of $111.42. The business’s fifty day moving average price is $65.23 and its 200-day moving average price is $84.75.

Tidewater declared that its board has authorized a stock repurchase program on Tuesday, August 6th that allows the company to repurchase $13.90 million in shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

TDW has been the topic of several research analyst reports. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and an average target price of $102.25.

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.