4D Advisors LLC Buys New Shares in Tidewater Inc. $TDW

Key Points

• 4D Advisors LLC has acquired 95,000 shares of Tidewater Inc., valued at approximately $4 million, representing 3.1% of its investment portfolio.
• Shares of Tidewater have received varying ratings from analysts, with Zacks upgrading to a "strong-buy" while others adjusted target prices, reflecting different outlooks on the stock's performance.
• Tidewater has initiated a $500 million share repurchase plan which indicates that the company's board believes its shares are undervalued.

4D Advisors LLC purchased a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 95,000 shares of the oil and gas company's stock, valued at approximately $4,016,000. Tidewater comprises about 3.1% of 4D Advisors LLC's investment portfolio, making the stock its 14th largest holding. 4D Advisors LLC owned about 0.19% of Tidewater as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd grew its holdings in Tidewater by 14.1% during the 1st 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 during the last quarter. Signaturefd LLC grew its holdings in Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after purchasing an additional 282 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings 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 valued at $1,160,000 after purchasing an additional 405 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Tidewater by 13.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock valued at $227,000 after purchasing an additional 479 shares during the last quarter. Finally, Spire Wealth Management grew its holdings in Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock valued at $168,000 after purchasing an additional 498 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Tidewater Stock Up 0.9%

Shares of TDW traded up $0.53 during midday trading on Friday, hitting $57.73. 812,858 shares of the company's stock traded hands, compared to its average volume of 692,967. 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 is $53.82 and its 200-day moving average is $45.68. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 14.95 and a beta of 1.09.

Tidewater (NYSE:TDW - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the company posted $0.94 EPS. The firm'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, sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

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

Insider Activity

In related news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is currently owned by company insiders.

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.