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

Charles Schwab Investment Management Inc. raised its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 9.7% in the third quarter, according to 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 acquiring an additional 38,411 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.83% of Tidewater worth $31,194,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Tidewater by 135.4% in the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company's stock valued at $25,000 after buying an additional 153 shares during the period. Quarry LP bought a new stake in shares of Tidewater in the second quarter valued at about $27,000. Hollencrest Capital Management bought a new stake in shares of Tidewater in the second quarter valued at about $30,000. Headlands Technologies LLC lifted its stake in shares of Tidewater by 6,322.2% in the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company's stock valued at $110,000 after buying an additional 1,138 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Tidewater by 721.0% in 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 buying an additional 1,752 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Tidewater Price Performance

Shares of NYSE TDW traded down $2.07 during mid-day trading on Wednesday, hitting $49.76. 1,027,514 shares of the stock were exchanged, compared to its average volume of 906,790. The company has a market cap of $2.60 billion, a P/E ratio of 14.76 and a beta of 1.10. The stock's fifty day simple moving average is $60.73 and its two-hundred day simple moving average is $80.87. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a twelve month low of $48.99 and a twelve month high of $111.42.

Tidewater announced that its Board of Directors has authorized a share repurchase 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 buy up to 0.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TDW shares. Raymond James cut shares of Tidewater from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. DNB Markets started coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a "buy" rating and a $70.00 price target for the company. Finally, StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.80.

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.