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

Dynamic Technology Lab Private Ltd trimmed its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 73.8% during the third quarter, according to 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 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Comerica Bank grew its position in shares of Tidewater by 2,170.4% in the 1st quarter. Comerica Bank now owns 33,398 shares of the oil and gas company's stock valued at $3,073,000 after buying an additional 31,927 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company's stock worth $25,000 after buying an additional 153 shares during the period. Harbor Capital Advisors Inc. raised its stake in Tidewater by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 40,416 shares of the oil and gas company's stock worth $3,848,000 after buying an additional 29,591 shares during the last quarter. NBC Securities Inc. lifted its holdings in Tidewater by 9.0% in the second quarter. NBC Securities Inc. now owns 9,100 shares of the oil and gas company's stock valued at $866,000 after buying an additional 750 shares during the period. Finally, SG Americas Securities LLC boosted its position in Tidewater by 60.3% during the second quarter. SG Americas Securities LLC now owns 5,061 shares of the oil and gas company's stock valued at $482,000 after acquiring an additional 1,903 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Analysts Set New Price Targets

TDW has been the subject of several research reports. StockNews.com upgraded Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. DNB Markets began coverage on Tidewater in a research report on Friday. They set a "buy" rating and a $70.00 target price on the stock. Finally, Raymond James downgraded shares of Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Tidewater has a consensus rating of "Moderate Buy" and a consensus target price of $95.80.

Tidewater Stock Performance

Shares of NYSE:TDW traded up $1.45 during mid-day trading on Friday, reaching $51.72. The company had a trading volume of 427,672 shares, compared to its average volume of 906,005. Tidewater Inc. has a one year low of $49.83 and a one year high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company's 50-day moving average price is $61.75 and its 200-day moving average price is $81.99. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 15.21 and a beta of 1.14.

Tidewater announced that its Board of Directors has initiated a share buyback program on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

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.