Charles Schwab Investment Management Inc. Acquires 38,411 Shares of Tidewater Inc. (NYSE:TDW)

Charles Schwab Investment Management Inc. boosted its stake in Tidewater Inc. (NYSE:TDWFree Report) by 9.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 434,517 shares of the oil and gas company’s stock after buying an additional 38,411 shares during the period. Charles Schwab Investment Management Inc. owned 0.83% of Tidewater worth $31,194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position 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 purchasing an additional 153 shares during the period. Quarry LP purchased a new stake in Tidewater in the 2nd quarter worth $27,000. Hollencrest Capital Management purchased a new stake in Tidewater in the 2nd quarter worth $30,000. Headlands Technologies LLC lifted its stake in Tidewater by 6,322.2% in the 2nd 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. Finally, EverSource Wealth Advisors LLC raised its position in shares of Tidewater by 721.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,995 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 1,752 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Tidewater Stock Performance

Shares of TDW opened at $51.87 on Wednesday. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 15.32 and a beta of 1.10. The firm has a fifty day moving average of $61.24 and a 200-day moving average of $81.25. Tidewater Inc. has a 1 year low of $49.83 and a 1 year high of $111.42. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Tidewater announced that its board has authorized a share buyback program on Tuesday, August 6th that allows the company to buyback $13.90 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 0.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. DNB Markets assumed coverage on shares of Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 price objective on the stock. Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and an average price target of $95.80.

Check Out Our Latest Research Report on TDW

About Tidewater

(Free Report)

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.

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Institutional Ownership by Quarter for Tidewater (NYSE:TDW)

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