Nomura Holdings Inc. Makes New $442,000 Investment in Tidewater Inc. $TDW

Key Points

• Nomura Holdings Inc. has acquired 10,449 shares of Tidewater Inc. (NYSE: TDW) during the first quarter, valued at approximately $442,000.
• Institutional investors now own 95.13% of Tidewater's stock, highlighting strong interest from hedge funds such as Price T Rowe Associates Inc., which raised its stake by 69.3%.
• Tidewater recently reported earnings of $1.23 EPS for the quarter, significantly surpassing the consensus estimate of $0.28, alongside a $500 million share repurchase plan indicating confidence in its stock value.

Nomura Holdings Inc. purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 10,449 shares of the oil and gas company's stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd increased its stake in Tidewater by 14.1% in the first quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company's stock valued at $88,000 after purchasing an additional 256 shares in the last quarter. Signaturefd LLC increased its position in shares of Tidewater by 33.3% in the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after buying an additional 282 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Tidewater by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company's stock worth $1,160,000 after buying an additional 405 shares during the period. Spire Wealth Management lifted its holdings in Tidewater by 14.3% during the first quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock worth $168,000 after acquiring an additional 498 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in Tidewater by 7.0% during the first quarter. Gamco Investors INC. ET AL now owns 9,610 shares of the oil and gas company's stock worth $406,000 after acquiring an additional 630 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TDW shares. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Zacks Research raised Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Evercore ISI lifted their price target on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Tidewater Stock Up 2.9%

NYSE TDW traded up $1.67 during trading on Wednesday, hitting $59.99. The stock had a trading volume of 599,731 shares, compared to its average volume of 674,955. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $79.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The company's 50-day moving average price is $54.54 and its two-hundred day moving average price is $45.83. The company has a market capitalization of $2.97 billion, a PE ratio of 15.54 and a beta of 1.09.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company had revenue of $341.43 million during the quarter, compared to analysts' expectations of $317.28 million. During the same period last year, the business earned $0.94 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater declared that its Board of Directors has authorized a stock buyback plan on Monday, August 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas company to buy up to 21.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the sale, the executive vice president directly owned 75,986 shares in the company, valued at approximately $4,373,754.16. The trade was a 11.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company's stock.

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.