Tidewater Inc. (NYSE:TDW) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 20.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,080 shares of the oil and gas company’s stock after selling 49,945 shares during the period. Victory Capital Management Inc.’s holdings in Tidewater were worth $14,364,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 153 shares in the last quarter. Quarry LP purchased a new stake in shares of Tidewater during the 2nd quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in shares of Tidewater during the first quarter worth $28,000. Hollencrest Capital Management purchased a new position in Tidewater in the second quarter valued at $30,000. Finally, Headlands Technologies LLC raised its stake in Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,138 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

TDW has been the topic of a number of recent analyst reports. Raymond James downgraded 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 report on Monday, November 11th. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Stock Down 0.6 %

Shares of NYSE TDW opened at $50.68 on Wednesday. The business has a 50-day moving average price of $65.23 and a 200 day moving average price of $84.75. The stock has a market cap of $2.65 billion, a PE ratio of 14.91 and a beta of 1.14. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 52-week low of $50.14 and a 52-week high of $111.42.

Tidewater declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.