Tidewater Inc. (NYSE:TDW) Shares Bought by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC increased its stake in Tidewater Inc. (NYSE:TDW) by 342.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,638 shares of the oil and gas company’s stock after acquiring an additional 12,104 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Tidewater were worth $1,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Tidewater by 25.7% during the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after purchasing an additional 985,398 shares in the last quarter. Boston Partners boosted its stake in 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 in the last quarter. Hsbc Holdings PLC grew its holdings in Tidewater by 11,317.3% during the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after acquiring an additional 639,765 shares during the period. Bank of New York Mellon Corp raised its position in Tidewater by 72.1% in the second 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 acquiring an additional 185,972 shares in the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in Tidewater in the 1st quarter valued at about $34,898,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TDW has been the topic of several recent research reports. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Raymond James lifted their price target on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Price Performance

NYSE TDW opened at $73.34 on Wednesday. Tidewater Inc. has a 1 year low of $54.53 and a 1 year high of $111.42. The stock’s 50-day moving average price is $83.79 and its two-hundred day moving average price is $92.71. The company has a market cap of $3.85 billion, a PE ratio of 29.22 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 (NYSE:TDW) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The firm’s quarterly revenue was up 57.8% on a year-over-year basis. On average, analysts predict that Tidewater Inc. will post 4.4 EPS for the current year.

Tidewater declared that its Board of Directors has authorized a share repurchase plan 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 buy up to 0.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management 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.