Victory Capital Management Inc. Has $14.36 Million Stock Holdings in Tidewater Inc. (NYSE:TDW)

Victory Capital Management Inc. lowered its stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 20.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 200,080 shares of the oil and gas company's stock after selling 49,945 shares during the period. Victory Capital Management Inc. owned approximately 0.38% of Tidewater worth $14,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TDW. Vanguard Group Inc. boosted its position in shares of Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company's stock worth $442,956,000 after purchasing an additional 985,398 shares during the period. Van ECK Associates Corp purchased a new position in shares of Tidewater during the 3rd quarter worth approximately $51,089,000. Hsbc Holdings PLC boosted its position in shares of Tidewater by 11,317.3% during the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company's stock worth $60,992,000 after purchasing an additional 639,765 shares during the period. Villere ST Denis J & Co. LLC purchased a new position in shares of Tidewater during the 3rd quarter worth approximately $25,871,000. Finally, Boston Partners boosted its position in shares of Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company's stock worth $214,055,000 after purchasing an additional 243,489 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Trading Down 0.5 %

NYSE:TDW traded down $0.24 during trading hours on Wednesday, reaching $50.44. 1,040,839 shares of the company were exchanged, compared to its average volume of 909,248. The stock has a 50 day simple moving average of $64.84 and a 200 day simple moving average of $84.51. Tidewater Inc. has a 52-week low of $49.86 and a 52-week 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 firm has a market cap of $2.64 billion, a price-to-earnings ratio of 14.84 and a beta of 1.14.

Tidewater announced that its Board of Directors has authorized a share repurchase plan on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

TDW has been the subject of several recent research reports. Raymond James cut shares of Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $102.25.

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.