Charles Schwab Investment Management Inc. Has $31.19 Million Holdings in Tidewater Inc. (NYSE:TDW)

Charles Schwab Investment Management Inc. raised its position in Tidewater Inc. (NYSE:TDW) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing 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 quarter. Charles Schwab Investment Management Inc.’s holdings in Tidewater were worth $31,194,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares during the last quarter. Quarry LP bought a new position in Tidewater in the 2nd quarter worth $27,000. Hollencrest Capital Management bought a new stake in Tidewater during the second quarter valued at about $30,000. Headlands Technologies LLC raised its holdings in Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,138 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Tidewater by 721.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,995 shares of the oil and gas company’s stock valued at $197,000 after purchasing 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

TDW stock opened at $51.87 on Wednesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market cap of $2.71 billion, a P/E ratio of 15.32 and a beta of 1.10. The firm has a 50 day simple moving average of $61.24 and a 200 day simple moving average of $81.25. Tidewater Inc. has a 52 week low of $49.83 and a 52 week high of $111.42.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.