Tidewater Inc. (NYSE:TDW) Shares Sold by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. reduced its holdings in Tidewater Inc. (NYSE:TDW) by 42.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the oil and gas company’s stock after selling 15,000 shares during the period. Anthracite Investment Company Inc.’s holdings in Tidewater were worth $1,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Tidewater by 135.4% in the 2nd 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 purchased a new position in shares of Tidewater in the second quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new position in shares of Tidewater in the first quarter valued at approximately $28,000. Hollencrest Capital Management acquired a new stake in shares of Tidewater in the second quarter worth approximately $30,000. Finally, Headlands Technologies LLC increased its position in shares of 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 purchasing an additional 1,138 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Trading Down 0.6 %

Shares of TDW stock opened at $50.68 on Wednesday. Tidewater Inc. has a twelve month low of $50.14 and a twelve month high of $111.42. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 14.91 and a beta of 1.14. The company’s 50-day moving average price is $65.23 and its 200-day moving average price is $84.75. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Tidewater declared that its Board of Directors has authorized a stock buyback program on Tuesday, August 6th that authorizes the company to buyback $13.90 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 0.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TDW shares. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock 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 note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $102.25.

Tidewater 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.