Dimensional Fund Advisors LP Has $121.65 Million Stock Position in Tidewater Inc. (NYSE:TDW)

Dimensional Fund Advisors LP decreased its position in Tidewater Inc. (NYSE:TDW) by 14.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,277,709 shares of the oil and gas company’s stock after selling 214,757 shares during the period. Dimensional Fund Advisors LP owned approximately 2.42% of Tidewater worth $121,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TDW. Vanguard Group Inc. grew its holdings 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 valued at $442,956,000 after buying an additional 985,398 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Tidewater in the 1st quarter worth $34,898,000. Boston Partners boosted its stake in Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after purchasing an additional 243,489 shares during the period. Principal Financial Group Inc. boosted its stake in Tidewater by 622.0% in the 2nd quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after purchasing an additional 238,933 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in 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 purchasing an additional 185,972 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analysts Set New Price Targets

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

Tidewater Stock Up 0.2 %

Shares of TDW stock opened at $75.68 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The firm’s 50-day moving average is $87.42 and its 200-day moving average is $93.10. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 30.15 and a beta of 1.13. Tidewater Inc. has a 52-week low of $54.53 and a 52-week high of $111.42.

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

Tidewater declared that its board has authorized a stock buyback plan on Tuesday, August 6th that authorizes the company to repurchase $13.90 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 0.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are 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.