Mutual of America Capital Management LLC Has $521,000 Stock Position in Tidewater Inc. (NYSE:TDW)

Mutual of America Capital Management LLC reduced its stake in Tidewater Inc. (NYSE:TDW) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,264 shares of the oil and gas company’s stock after selling 714 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Tidewater were worth $521,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky bought a new position in shares of Tidewater during the second quarter worth approximately $1,241,000. Raymond James & Associates grew its holdings in Tidewater by 11.9% in the 3rd quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock valued at $6,725,000 after buying an additional 9,952 shares in the last quarter. Comerica Bank increased its position in Tidewater by 2,170.4% during the 1st quarter. Comerica Bank now owns 33,398 shares of the oil and gas company’s stock worth $3,073,000 after buying an additional 31,927 shares during the period. Boston Partners increased its position in 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. Finally, Public Sector Pension Investment Board acquired a new stake in shares of Tidewater during the second quarter worth $10,171,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TDW has been the topic of several research reports. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company 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 research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater Stock Performance

TDW opened at $50.17 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a 52-week low of $49.83 and a 52-week high of $111.42. The firm has a market cap of $2.63 billion, a P/E ratio of 14.76 and a beta of 1.14. The business’s fifty day moving average is $63.68 and its 200-day moving average is $83.19.

Tidewater declared that its board has approved a stock repurchase plan 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 plans are generally an indication that the company’s leadership believes its shares are 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.