Headlands Technologies LLC Raises Holdings in Tidewater Inc. (NYSE:TDW)

Headlands Technologies LLC boosted its stake in shares of Tidewater Inc. (NYSE:TDW) by 6,322.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,156 shares of the oil and gas company’s stock after buying an additional 1,138 shares during the period. Headlands Technologies LLC’s holdings in Tidewater were worth $110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Tidewater by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after acquiring an additional 985,398 shares in the last quarter. Boston Partners lifted its position in shares of Tidewater by 11.7% during the first quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after buying an additional 243,489 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Tidewater by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock valued at $130,195,000 after buying an additional 31,292 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Tidewater by 72.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after buying an additional 185,972 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new position in shares of Tidewater during the 1st quarter worth approximately $34,898,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Trading Up 1.1 %

NYSE TDW opened at $71.48 on Monday. The stock has a market cap of $3.75 billion, a P/E ratio of 28.48 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a 12-month low of $54.53 and a 12-month high of $111.42. The company has a fifty day simple moving average of $89.51 and a two-hundred day simple moving average of $93.25.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The company had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The firm’s revenue was up 57.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, analysts forecast that Tidewater Inc. will post 4.4 earnings per share for the current year.

Tidewater declared that its board has initiated a share repurchase program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on TDW shares. Raymond James raised their target price on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com downgraded Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $111.25.

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.