Anthracite Investment Company Inc. Cuts Stock Position in Tidewater Inc. (NYSE:TDW)

Anthracite Investment Company Inc. decreased its position in shares of Tidewater Inc. (NYSE:TDW) by 42.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 hedge funds and other institutional investors also recently bought and sold shares of the company. Sage Mountain Advisors LLC lifted its position in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC increased its stake in Tidewater by 135.4% during 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 period. Natixis Advisors LLC increased its stake in Tidewater by 0.7% during the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after buying an additional 174 shares during the period. Xponance Inc. lifted its holdings in Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock worth $294,000 after buying an additional 279 shares in the last quarter. Finally, Quarry LP purchased a new position in Tidewater in the 2nd quarter valued at approximately $27,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Trading Down 0.6 %

NYSE TDW opened at $50.68 on Wednesday. Tidewater Inc. has a 52 week low of $50.14 and a 52 week high of $111.42. The firm has a 50 day moving average of $65.23 and a two-hundred day moving average of $84.75. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.65 billion, a PE ratio of 14.91 and a beta of 1.14.

Tidewater declared that its board has approved a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

TDW has been the topic of a number of recent research reports. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Tidewater presently has a consensus 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.