4D Advisors LLC Takes Position 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 position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 95,000 shares of the oil and gas company's stock, valued at approximately $4,016,000. Tidewater makes up 3.1% of 4D Advisors LLC's holdings, making the stock its 14th largest holding. 4D Advisors LLC owned about 0.19% of Tidewater as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in Tidewater by 69.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock worth $165,058,000 after acquiring an additional 1,598,513 shares during the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Tidewater by 17.7% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after purchasing an additional 238,170 shares in the last quarter. Robotti Robert grew its holdings in shares of Tidewater by 8.5% during the first quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock worth $120,750,000 after purchasing an additional 223,651 shares during the last quarter. Third Avenue Management LLC increased its stake in shares of Tidewater by 37.6% in the first quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company's stock valued at $34,207,000 after buying an additional 221,079 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of Tidewater by 271.7% in the first quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company's stock valued at $12,484,000 after buying an additional 215,891 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Buying and Selling

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was 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 approximately $4,373,754.16. This trade represents a 11.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

TDW has been the topic of several recent research reports. Evercore ISI lifted their target price 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. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Finally, Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $69.00.

Tidewater Trading Up 0.9%

Tidewater stock traded up $0.53 during mid-day trading on Friday, hitting $57.73. 812,858 shares of the stock were exchanged, compared to its average volume of 692,967. 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 Inc. has a 12 month low of $31.17 and a 12 month high of $79.43. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. The firm's fifty day simple moving average is $53.82 and its two-hundred day simple moving average is $45.63.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 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 for the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the firm posted $0.94 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater announced that its Board of Directors has approved a stock repurchase plan on Monday, August 4th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 21.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

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.