Dynamic Technology Lab Private Ltd Trims Holdings in Tidewater Inc. (NYSE:TDW)

Dynamic Technology Lab Private Ltd reduced its stake in shares of Tidewater Inc. (NYSE:TDW) by 73.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,114 shares of the oil and gas company’s stock after selling 17,240 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Tidewater were worth $439,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Sage Mountain Advisors LLC raised its position in Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after acquiring an additional 120 shares in the last quarter. GAMMA Investing LLC raised its position 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 acquiring an additional 153 shares in the last quarter. Natixis Advisors LLC raised its position in Tidewater by 0.7% during the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after acquiring an additional 174 shares in the last quarter. Xponance Inc. raised its position in Tidewater by 9.9% during the second quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after acquiring an additional 279 shares in the last quarter. Finally, Quarry LP purchased a new position in Tidewater during the second quarter valued at approximately $27,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Shares of NYSE:TDW opened at $51.76 on Friday. 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 business’s 50 day moving average price is $62.23 and its 200-day moving average price is $82.35. The firm has a market capitalization of $2.71 billion, a PE ratio of 14.79 and a beta of 1.14. Tidewater Inc. has a 1 year low of $49.83 and a 1 year high of $111.42.

Tidewater announced that its Board of Directors has initiated a share buyback 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 purchase up to 0.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

TDW has been the subject of a number of recent analyst reports. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, DNB Markets initiated coverage on Tidewater in a research report on Friday. They issued a “buy” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average price target of $95.80.

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.