Thompson Siegel & Walmsley LLC Sells 12,548 Shares of Tidewater Inc. (NYSE:TDW)

Thompson Siegel & Walmsley LLC cut its stake in Tidewater Inc. (NYSE:TDW) by 12.1% during the 2nd quarter, HoldingsChannel.com reports. 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’s holdings in Tidewater were worth $8,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 purchasing an additional 985,398 shares during the last quarter. Boston Partners increased its holdings in Tidewater by 11.7% in the first 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake in Tidewater by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock valued at $130,195,000 after buying an additional 31,292 shares during the period. Bank of New York Mellon Corp grew its position in shares of Tidewater by 72.1% during 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 buying an additional 185,972 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Tidewater during the 1st quarter valued at $34,898,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Trading Up 1.1 %

Shares of Tidewater stock opened at $71.48 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 stock has a market capitalization of $3.75 billion, a P/E ratio of 28.48 and a beta of 1.13. Tidewater Inc. has a 52-week low of $54.53 and a 52-week high of $111.42. The stock’s 50-day simple moving average is $89.51 and its 200 day simple moving average is $93.25.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $331.85 million. During the same period in the prior year, the company posted $0.46 EPS. Tidewater’s revenue was up 57.8% compared to the same quarter last year. As a group, research analysts anticipate that Tidewater Inc. will post 4.4 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, September 11th. Raymond James increased their price target on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.25.

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.