Victory Capital Management Inc. lowered its stake in shares of Tidewater Inc. (NYSE:TDW – Free Report) by 63.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,038 shares of the oil and gas company’s stock after selling 28,298 shares during the period. Victory Capital Management Inc.’s holdings in Tidewater were worth $889,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Tidewater during the 1st quarter worth about $44,000. Tower Research Capital LLC TRC raised its holdings in Tidewater by 36.0% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,021 shares of the oil and gas company’s stock valued at $45,000 after acquiring an additional 270 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Tidewater by 59.9% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,094 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 410 shares during the period. Strs Ohio purchased a new stake in shares of Tidewater in the first quarter valued at $52,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Tidewater by 46.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,489 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 84.19% of the company’s stock.
Tidewater Trading Up 0.5 %
TDW opened at $68.29 on Wednesday. The firm has a market capitalization of $3.60 billion, a P/E ratio of 72.65 and a beta of 1.36. The firm’s 50 day moving average is $67.54 and its 200-day moving average is $57.27. The company has a quick ratio of 1.88, a current ratio of 1.99 and a debt-to-equity ratio of 0.20. Tidewater Inc. has a 52-week low of $28.14 and a 52-week high of $73.55.
In related news, Director Robert Robotti acquired 1,486 shares of Tidewater stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $67.32 per share, for a total transaction of $100,037.52. Following the purchase, the director now directly owns 3,235,657 shares of the company’s stock, valued at approximately $217,824,429.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Tidewater news, CFO Samuel R. Rubio sold 21,788 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $62.37, for a total transaction of $1,358,917.56. Following the sale, the chief financial officer now directly owns 117,677 shares of the company’s stock, valued at $7,339,514.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Robotti purchased 1,486 shares of Tidewater stock in a transaction dated Thursday, September 7th. The stock was acquired at an average price of $67.32 per share, for a total transaction of $100,037.52. Following the completion of the transaction, the director now owns 3,235,657 shares in the company, valued at approximately $217,824,429.24. The disclosure for this purchase can be found here. Company insiders own 9.59% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on TDW. Evercore ISI started coverage on Tidewater in a report on Friday, July 7th. They issued an “outperform” rating and a $90.00 price target for the company. BTIG Research boosted their price objective on shares of Tidewater from $75.00 to $91.00 and gave the company a “buy” rating in a research note on Wednesday, September 20th. Raymond James started coverage on Tidewater in a report on Thursday, July 13th. They set a “strong-buy” rating and a $85.00 price objective for the company. Finally, StockNews.com initiated coverage on Tidewater in a research report on Thursday, October 5th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $88.67.
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 crude oil and natural 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.
- Five stocks we like better than Tidewater
- What is Insider Trading? What You Can Learn from Insider Trading
- Caterpillar crawls into a new buying opportunity
- How to Effectively Use the MarketBeat Ratings Screener
- Is there merit in these low-beta moat stocks? Analysts say yes
- What is the Euro STOXX 50 Index?
- Oil swings have led analysts to recommend these 2 stocks
Receive News & Ratings for Tidewater Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tidewater and related companies with MarketBeat.com's FREE daily email newsletter.