Charles Schwab Investment Management Inc. Lowers Holdings in Tidewater Inc. $TDW

Charles Schwab Investment Management Inc. trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 486,644 shares of the oil and gas company’s stock after selling 4,149 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.96% of Tidewater worth $20,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TDW. Price T Rowe Associates Inc. MD lifted its holdings in shares of Tidewater by 20.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after buying an additional 390,814 shares during the period. Encompass Capital Advisors LLC raised its position in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after acquiring an additional 238,170 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock valued at $84,888,000 after acquiring an additional 286,097 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Tidewater by 13.2% during the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company’s stock worth $47,473,000 after purchasing an additional 101,159 shares in the last quarter. Finally, Frontier Capital Management Co. LLC grew its stake in shares of Tidewater by 51.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 624,236 shares of the oil and gas company’s stock worth $34,152,000 after purchasing an additional 212,189 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti purchased 15,000 shares of Tidewater stock in a transaction on Wednesday, June 4th. The shares were bought at an average price of $42.05 per share, with a total value of $630,750.00. Following the purchase, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. This trade represents a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the completion of the sale, the executive vice president directly owned 75,986 shares of the company’s stock, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 25,560 shares of company stock worth $1,074,858. 6.60% of the stock is owned by company insiders.

Tidewater Stock Up 3.4%

TDW opened at $57.81 on Friday. The firm has a market cap of $2.86 billion, a P/E ratio of 14.98 and a beta of 1.08. The business’s fifty day simple moving average is $51.02 and its 200 day simple moving average is $45.33. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.40. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.95. The company had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its board has approved a stock repurchase plan on Monday, August 4th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 21.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on TDW shares. Zacks Research raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Raymond James Financial reduced their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. BTIG Research lowered Tidewater from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, Evercore ISI raised their price objective on Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Tidewater currently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.