5,255 Shares in Tidewater Inc. $TDW Purchased by Optimize Financial Inc

Key Points

• Optimize Financial Inc has acquired a new position in Tidewater Inc., purchasing 5,255 shares valued at approximately $222,000.
• Tidewater Inc. reported an earnings per share (EPS) of $1.23 for the last quarter, surpassing analyst estimates of $0.28.
• The company initiated a $500 million stock buyback plan, allowing it to repurchase up to 21.3% of its stock, indicating the board's belief in the undervaluation of shares.

Optimize Financial Inc bought a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,255 shares of the oil and gas company's stock, valued at approximately $222,000.

A number of other hedge funds have also recently bought and sold shares of the company. Covestor Ltd grew its holdings in Tidewater by 14.1% during the first quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company's stock worth $88,000 after acquiring an additional 256 shares during the period. Signaturefd LLC boosted 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 purchasing an additional 282 shares during the period. Illinois Municipal Retirement Fund boosted its position in shares of Tidewater by 1.5% in 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 period. Spire Wealth Management boosted its position in shares of Tidewater by 14.3% in 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 period. Finally, Gamco Investors INC. ET AL boosted its position in shares of Tidewater by 7.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 9,610 shares of the oil and gas company's stock valued at $406,000 after purchasing an additional 630 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Tidewater Trading Down 1.3%

Shares of NYSE TDW opened at $58.33 on Wednesday. Tidewater Inc. has a one year low of $31.17 and a one year high of $79.43. The firm has a market capitalization of $2.89 billion, a PE ratio of 15.11 and a beta of 1.09. 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 business has a 50-day moving average price of $54.29 and a two-hundred day moving average price of $45.73.

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

Tidewater announced that its Board of Directors has initiated a stock 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 repurchase 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.

Insider Buying and Selling

In other news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater 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 $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 can be accessed through this link. 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.

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