Victory Capital Management Inc. Sells 154,386 Shares of Tidewater Inc. (NYSE:TDW)

Victory Capital Management Inc. reduced its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 77.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,694 shares of the oil and gas company's stock after selling 154,386 shares during the period. Victory Capital Management Inc. owned 0.09% of Tidewater worth $2,500,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TDW. Fortitude Family Office LLC acquired a new position in Tidewater in the 4th quarter valued at about $33,000. Quarry LP boosted its holdings in shares of 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 acquiring an additional 531 shares during the period. Northwest & Ethical Investments L.P. acquired a new position in shares of Tidewater in the third quarter valued at approximately $65,000. Venturi Wealth Management LLC increased its stake in shares of 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 period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Tidewater by 336.3% during the 4th 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. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti purchased 1,770 shares of Tidewater stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the transaction, the director now owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. The trade was a 0.08 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.33% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Pickering Energy Partners downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. DNB Markets initiated coverage on shares of Tidewater in a research note on Friday, November 29th. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Evercore ISI lowered shares of Tidewater from an "outperform" rating to an "in-line" rating and decreased their target price for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.50.

Tidewater Price Performance

TDW stock traded up $0.67 during midday trading on Thursday, reaching $43.00. The company had a trading volume of 602,039 shares, compared to its average volume of 999,985. Tidewater Inc. has a 1-year low of $38.65 and a 1-year high of $111.42. The stock has a 50 day moving average price of $50.43 and a 200-day moving average price of $57.15. 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 company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.64 and a beta of 1.06.

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.