Royce & Associates LP Lowers Stock Holdings in Tidewater Inc. (NYSE:TDW)

Royce & Associates LP lessened its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 49.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,250 shares of the oil and gas company's stock after selling 14,750 shares during the quarter. Royce & Associates LP's holdings in Tidewater were worth $1,095,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TDW. GAMMA Investing LLC raised 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 acquiring an additional 153 shares during the last quarter. Quarry LP acquired a new position in shares of Tidewater in the 2nd quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new stake in shares of Tidewater in the 1st quarter valued at $28,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater during the second quarter worth $30,000. Finally, Headlands Technologies LLC raised its stake in Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company's stock worth $110,000 after buying an additional 1,138 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Stock Down 0.6 %

Shares of NYSE TDW traded down $0.29 during trading on Wednesday, hitting $50.39. 371,602 shares of the company traded hands, compared to its average volume of 906,116. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 14.76 and a beta of 1.14. The business's fifty day moving average is $65.23 and its 200 day moving average is $84.75. 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 fifty-two week low of $49.86 and a fifty-two week high of $111.42.

Tidewater announced that its Board of Directors has initiated a share buyback 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 repurchase up to 0.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TDW shares. Raymond James downgraded Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com raised Tidewater from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $102.25.

About Tidewater

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.