Tidewater Inc. (NYSE:TDW) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its position in Tidewater Inc. (NYSE:TDW) by 73.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,114 shares of the oil and gas company’s stock after selling 17,240 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Tidewater were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TDW. GAMMA Investing LLC boosted its stake in 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 last quarter. Quarry LP acquired a new position in Tidewater during the second quarter worth $27,000. Hollencrest Capital Management acquired a new position in Tidewater during the second quarter worth $30,000. Headlands Technologies LLC boosted 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. Finally, EverSource Wealth Advisors LLC boosted its stake in Tidewater by 721.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,995 shares of the oil and gas company’s stock worth $197,000 after buying an additional 1,752 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of Tidewater stock opened at $51.76 on Friday. Tidewater Inc. has a 52 week low of $49.83 and a 52 week high of $111.42. The business’s fifty day simple moving average is $62.23 and its 200-day simple moving average is $82.35. The firm has a market cap of $2.71 billion, a PE ratio of 14.79 and a beta of 1.14. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Tidewater announced that its board has initiated a stock 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 reacquire up to 0.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

TDW has been the topic of a number of recent research reports. DNB Markets initiated coverage on Tidewater in a research note on Friday. They set a “buy” rating and a $70.00 price objective on the stock. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Raymond James lowered 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 note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Moderate Buy” and an average price target of $95.80.

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.