Royce & Associates LP Sells 14,750 Shares of Tidewater Inc. (NYSE:TDW)

Royce & Associates LP decreased its position in Tidewater Inc. (NYSE:TDW) by 49.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,250 shares of the oil and gas company’s stock after selling 14,750 shares during the period. Royce & Associates LP’s holdings in Tidewater were worth $1,095,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of TDW. Vanguard Group Inc. lifted its stake in shares of Tidewater by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after purchasing an additional 985,398 shares during the period. Van ECK Associates Corp acquired a new position in Tidewater in the third quarter valued at approximately $51,089,000. Hsbc Holdings PLC boosted its holdings 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 buying an additional 639,765 shares in the last quarter. Villere ST Denis J & Co. LLC acquired a new stake in shares of Tidewater during the 3rd quarter worth approximately $25,871,000. Finally, Boston Partners grew its position in shares of Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after buying an additional 243,489 shares during the period. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

NYSE TDW opened at $50.68 on Wednesday. The company has a market cap of $2.65 billion, a P/E ratio of 14.91 and a beta of 1.14. The company has a fifty day simple moving average of $65.23 and a 200 day simple moving average of $84.75. 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 Inc. has a 12-month low of $50.14 and a 12-month high of $111.42.

Tidewater announced that its board has approved a stock repurchase program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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