Victory Capital Management Inc. Has $16.40 Million Stake in Tidewater Inc. (NYSE:TDW)

Victory Capital Management Inc. trimmed its position in Tidewater Inc. (NYSE:TDW - Free Report) by 12.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 227,470 shares of the oil and gas company's stock after selling 31,379 shares during the period. Victory Capital Management Inc. owned about 0.43% of Tidewater worth $16,403,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Commonwealth Equity Services LLC acquired a new stake in shares of Tidewater during the third quarter worth $1,972,000. Raymond James & Associates raised its position in shares of Tidewater by 158.1% in the 3rd quarter. Raymond James & Associates now owns 77,843 shares of the oil and gas company's stock valued at $5,532,000 after acquiring an additional 47,686 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in Tidewater during the 3rd quarter worth approximately $1,621,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Tidewater by 7.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,711 shares of the oil and gas company's stock valued at $1,543,000 after purchasing an additional 1,412 shares during the period. Finally, Perigon Wealth Management LLC raised its holdings in Tidewater by 6.5% in the third quarter. Perigon Wealth Management LLC now owns 8,201 shares of the oil and gas company's stock worth $583,000 after purchasing an additional 503 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $109.00, for a total transaction of $2,180,000.00. Following the sale, the executive vice president now owns 74,542 shares in the company, valued at approximately $8,125,078. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Daniel A. Hudson sold 20,000 shares of the company's stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $109.00, for a total value of $2,180,000.00. Following the sale, the executive vice president now directly owns 74,542 shares of the company's stock, valued at approximately $8,125,078. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 8,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the completion of the sale, the executive vice president now directly owns 104,312 shares of the company's stock, valued at $8,553,584. The disclosure for this sale can be found here. Insiders sold a total of 266,479 shares of company stock worth $27,767,870 over the last ninety days. 9.59% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on TDW shares. Johnson Rice initiated coverage on shares of Tidewater in a research report on Friday, February 9th. They issued a "buy" rating and a $88.00 price objective for the company. Evercore ISI boosted their price objective on Tidewater from $87.00 to $89.00 and gave the company an "outperform" rating in a research report on Monday, March 4th. StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a report on Monday, March 4th. Pickering Energy Partners began coverage on shares of Tidewater in a research note on Tuesday, January 30th. They issued an "outperform" rating on the stock. Finally, BTIG Research increased their price objective on shares of Tidewater from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $98.00.

Tidewater Stock Down 2.1 %

Shares of TDW stock traded down $2.21 during trading on Friday, reaching $104.76. The company's stock had a trading volume of 804,049 shares, compared to its average volume of 766,827. Tidewater Inc. has a one year low of $42.61 and a one year high of $111.42. The business has a fifty day moving average price of $92.82 and a 200-day moving average price of $75.51. The company has a market cap of $5.53 billion, a price-to-earnings ratio of 41.74 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.40. The company had revenue of $321.20 million during the quarter, compared to the consensus estimate of $312.05 million. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The company's quarterly revenue was up 66.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. Analysts anticipate that Tidewater Inc. will post 4.68 earnings per share for the current year.

Tidewater announced that its Board of Directors has initiated a stock buyback program on Thursday, February 29th that authorizes the company to buyback $48.60 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

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.