Tidewater Inc. (NYSE:TDW) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its holdings in shares of Tidewater Inc. (NYSE:TDW) by 77.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.’s holdings in Tidewater were worth $2,500,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TDW. Fortitude Family Office LLC purchased a new stake in Tidewater during the fourth quarter worth approximately $33,000. Quarry LP lifted its stake in Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 531 shares during the last quarter. Northwest & Ethical Investments L.P. purchased a new stake in Tidewater during the third quarter worth approximately $65,000. Venturi Wealth Management LLC lifted its stake in Tidewater by 2,018.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,271 shares of the oil and gas company’s stock worth $70,000 after purchasing an additional 1,211 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Tidewater by 336.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Price Performance

Tidewater stock opened at $40.46 on Monday. Tidewater Inc. has a 12 month low of $38.65 and a 12 month high of $111.42. 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 has a 50 day simple moving average of $51.32 and a 200-day simple moving average of $57.92. The stock has a market capitalization of $2.08 billion, a PE ratio of 11.90 and a beta of 1.06.

Analyst Ratings Changes

A number of brokerages have weighed in on TDW. Evercore ISI cut Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. DNB Markets began coverage on Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Finally, Pickering Energy Partners cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three investment 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Insider Transactions at Tidewater

In other news, Director Robert Robotti bought 25,000 shares of the stock in a transaction on Thursday, March 13th. The shares were bought at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the acquisition, the director now owns 2,208,670 shares of the company’s stock, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 8.33% of the company’s stock.

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.