Thompson Siegel & Walmsley LLC Has $8.66 Million Position in Tidewater Inc. (NYSE:TDW)

Thompson Siegel & Walmsley LLC reduced its position in shares of Tidewater Inc. (NYSE:TDW) by 12.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,955 shares of the oil and gas company’s stock after selling 12,548 shares during the period. Thompson Siegel & Walmsley LLC owned approximately 0.17% of Tidewater worth $8,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 985,398 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Tidewater in the first quarter valued at approximately $34,898,000. Boston Partners boosted its stake in shares of Tidewater by 11.7% in 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 during the period. Principal Financial Group Inc. grew its position in Tidewater by 622.0% during the second quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after buying an additional 238,933 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Tidewater by 72.1% during 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 buying an additional 185,972 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TDW. StockNews.com downgraded Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th. Raymond James upped their price objective 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 investment 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Price Performance

Shares of TDW stock opened at $71.48 on Monday. The business has a fifty day simple moving average of $89.51 and a 200 day simple moving average of $93.25. The company has a market cap of $3.75 billion, a P/E ratio of 28.48 and a beta of 1.13. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a twelve month low of $54.53 and a twelve month high of $111.42.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share (EPS) for the quarter, topping 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 company had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same period in the prior year, the business earned $0.46 earnings per share. The company’s revenue for the quarter was up 57.8% compared to the same quarter last year. On average, sell-side analysts forecast that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

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

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.