Boston Partners Boosts Stock Position in Tidewater Inc. $TDW

Boston Partners increased its stake in shares of Tidewater Inc. (NYSE:TDW) by 1,118.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 283,676 shares of the oil and gas company’s stock after buying an additional 260,395 shares during the period. Boston Partners owned about 0.57% of Tidewater worth $14,089,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 650 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Tidewater by 4,245.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after buying an additional 849 shares in the last quarter. Bogart Wealth LLC raised its position in Tidewater by 28.6% during the second quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 200 shares in the last quarter. CWM LLC grew its position in Tidewater by 83.6% during the second quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 422 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Tidewater in the first quarter worth $40,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Trading Up 2.2%

NYSE TDW opened at $53.84 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The stock has a market cap of $2.67 billion, a PE ratio of 13.95 and a beta of 1.00. The company’s 50-day moving average price is $52.64 and its 200-day moving average price is $51.32. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $64.07.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.46 by ($0.48). The firm had revenue of $341.11 million for the quarter, compared to analysts’ expectations of $328.84 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.87 earnings per share. Equities research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater declared that its board has approved a stock buyback program on Monday, August 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Tidewater in a report on Monday. Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Zacks Research cut shares of Tidewater from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Finally, Evercore ISI decreased their target price on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $67.50.

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.