Amalgamated Bank Sells 601 Shares of Tidewater Inc. (NYSE:TDW)

Amalgamated Bank lessened its holdings in Tidewater Inc. (NYSE:TDW) by 4.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,157 shares of the oil and gas company’s stock after selling 601 shares during the quarter. Amalgamated Bank’s holdings in Tidewater were worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares during the period. Quarry LP bought a new position in shares of Tidewater during the 2nd quarter worth $27,000. Transcendent Capital Group LLC purchased a new stake in Tidewater in the 1st quarter worth about $28,000. Hollencrest Capital Management bought a new stake in Tidewater in the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC lifted its holdings in Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 1,138 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Up 0.2 %

Shares of Tidewater stock opened at $53.19 on Friday. The company’s 50-day moving average price is $66.53 and its 200-day moving average price is $85.85. The company has a market cap of $2.78 billion, a price-to-earnings ratio of 15.64 and a beta of 1.14. Tidewater Inc. has a 12-month low of $52.61 and a 12-month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

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

Analyst Upgrades and Downgrades

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

Tidewater Company 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.