Victory Capital Management Inc. Decreases Stake in Tidewater Inc. (NYSE:TDW)

Victory Capital Management Inc. lessened its holdings in shares of Tidewater Inc. (NYSE:TDW) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,080 shares of the oil and gas company’s stock after selling 49,945 shares during the period. Victory Capital Management Inc. owned 0.38% of Tidewater worth $14,364,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TDW. GAMMA Investing LLC grew its position in shares of Tidewater by 135.4% in 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 in the last quarter. Quarry LP acquired a new stake in shares of Tidewater in the 2nd quarter worth $27,000. Transcendent Capital Group LLC purchased a new position in shares of Tidewater during the 1st quarter worth $28,000. Hollencrest Capital Management acquired a new position in shares of Tidewater during the 2nd quarter valued at about $30,000. Finally, Headlands Technologies LLC grew its holdings in shares of 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 purchasing an additional 1,138 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on TDW shares. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Trading Down 0.6 %

Shares of TDW stock opened at $50.68 on Wednesday. The firm has a market cap of $2.65 billion, a PE ratio of 14.91 and a beta of 1.14. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a 1-year low of $50.14 and a 1-year high of $111.42. The company has a 50-day moving average of $65.23 and a two-hundred day moving average of $84.75.

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

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.