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 bought a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 14,329 shares of the oil and gas company's stock, valued at approximately $606,000.

A number of other institutional investors have also modified their holdings of TDW. Price T Rowe Associates Inc. MD increased its holdings in shares of Tidewater by 69.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock valued at $165,058,000 after acquiring an additional 1,598,513 shares during the period. Robotti Robert increased its holdings in shares of Tidewater by 8.5% in the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after acquiring an additional 223,651 shares during the period. Third Avenue Management LLC increased its holdings in shares of Tidewater by 37.6% in the 1st quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company's stock valued at $34,207,000 after acquiring an additional 221,079 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Tidewater by 271.7% in the 1st quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company's stock valued at $12,484,000 after acquiring an additional 215,891 shares during the period. Finally, Deutsche Bank AG increased its holdings in shares of Tidewater by 73.5% in the 4th quarter. Deutsche Bank AG now owns 486,151 shares of the oil and gas company's stock valued at $26,597,000 after acquiring an additional 205,887 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tidewater

In related news, EVP Daniel A. Hudson sold 10,000 shares of the business's stock in a transaction dated 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 $4,373,754.16. The trade was a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is owned by corporate insiders.

Tidewater Price Performance

Shares of NYSE TDW traded down $0.24 during trading on Friday, hitting $59.26. 386,042 shares of the company were exchanged, compared to its average volume of 620,474. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 15.35 and a beta of 1.09. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $79.43. The firm's fifty day moving average price is $54.99 and its 200 day moving average price is $45.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04.

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

Tidewater announced that its board has approved a stock repurchase program on Monday, August 4th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BTIG Research cut shares of Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Evercore ISI boosted their price objective 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus 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.