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

Victory Capital Management Inc. trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 77.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,694 shares of the oil and gas company’s stock after selling 154,386 shares during the quarter. Victory Capital Management Inc. owned about 0.09% of Tidewater worth $2,500,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Centiva Capital LP purchased a new position in shares of Tidewater in the 3rd quarter valued at approximately $958,000. Hodges Capital Management Inc. increased its holdings in Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock worth $5,288,000 after buying an additional 49,050 shares during the period. Harbor Capital Advisors Inc. increased its holdings in Tidewater by 23.9% in the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock worth $8,431,000 after buying an additional 29,721 shares during the period. Citigroup Inc. increased its holdings in Tidewater by 75.2% in the 3rd quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock worth $4,193,000 after buying an additional 25,064 shares during the period. Finally, Barclays PLC increased its holdings in Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock worth $5,661,000 after buying an additional 61,487 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Up 1.3 %

Shares of TDW stock opened at $40.46 on Monday. The stock’s fifty day moving average is $51.32 and its two-hundred day moving average is $57.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The firm has a market capitalization of $2.08 billion, a P/E ratio of 11.90 and a beta of 1.06. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42.

Analysts Set New Price Targets

A number of brokerages have recently commented on TDW. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. DNB Markets began coverage on shares of Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average price target of $92.50.

Insider Buying and Selling at Tidewater

In related news, Director Robert Robotti purchased 25,000 shares of Tidewater stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the acquisition, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.33% of the stock is currently owned by insiders.

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.