14,329 Shares in Tidewater Inc. $TDW Purchased by Scientech Research LLC

Key Points

• Scientech Research LLC has purchased 14,329 shares of Tidewater Inc. valued at approximately $606,000 in the first quarter, indicating increased institutional interest in the company.
• Analysts have shown a range of sentiment toward Tidewater, with Zacks upgrading it to a "strong-buy" while Evercore ISI raised its price target to $67.00, reflecting optimistic outlook among certain investors.
• Tidewater's stock has seen a 2.2% increase recently, and the company announced a stock repurchase program authorizing $500 million to buy back shares, suggesting confidence in its valuation.

Scientech Research LLC purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,329 shares of the oil and gas company's stock, valued at approximately $606,000.

Several other institutional investors also recently modified their holdings of TDW. Northern Trust Corp increased its holdings in shares of Tidewater by 6.2% in the fourth quarter. Northern Trust Corp now owns 495,350 shares of the oil and gas company's stock valued at $27,101,000 after buying an additional 28,859 shares in the last quarter. Ameriprise Financial Inc. grew its position in Tidewater by 13.2% during the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock worth $47,473,000 after purchasing an additional 101,159 shares in the last quarter. Captrust Financial Advisors grew its position in Tidewater by 26.5% during the 4th quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock worth $364,000 after purchasing an additional 1,394 shares in the last quarter. Deutsche Bank AG grew its position in Tidewater by 73.5% during the 4th quarter. Deutsche Bank AG now owns 486,151 shares of the oil and gas company's stock worth $26,597,000 after purchasing an additional 205,887 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in Tidewater during the 4th quarter worth approximately $211,000. Institutional investors own 95.13% of the company's stock.

Tidewater Stock Performance

TDW stock traded down $0.38 during mid-day trading on Thursday, reaching $59.62. 462,753 shares of the stock traded hands, compared to its average volume of 646,584. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $79.43. The business has a 50-day moving average of $54.77 and a two-hundred day moving average of $45.90. The firm has a market capitalization of $2.95 billion, a PE ratio of 15.45 and a beta of 1.09.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the prior year, the company earned $0.94 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its board has initiated a share buyback plan on Monday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to purchase up to 21.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total transaction of $575,600.00. Following the completion of the sale, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. This represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TDW. BTIG Research cut shares of Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Evercore ISI lifted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. 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's stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of "Moderate Buy" and an average target price of $69.00.

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.