Optimize Financial Inc Invests $222,000 in Tidewater Inc. $TDW

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 acquired a new position in Tidewater Inc. (NYSE:TDW - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,255 shares of the oil and gas company's stock, valued at approximately $222,000.

Several other large investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Tidewater by 69.3% in the first 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 purchasing an additional 1,598,513 shares during the last quarter. Robotti Robert boosted its stake in Tidewater by 8.5% in the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock worth $120,750,000 after buying an additional 223,651 shares during the last quarter. Third Avenue Management LLC raised 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 worth $34,207,000 after purchasing an additional 221,079 shares during the period. Silvercrest Asset Management Group LLC raised its holdings in shares of Tidewater by 15.2% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 531,981 shares of the oil and gas company's stock worth $29,105,000 after purchasing an additional 70,194 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Tidewater by 73.5% during 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 buying an additional 205,887 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Insider Activity

In other Tidewater 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 value of $575,600.00. Following the sale, the executive vice president owned 75,986 shares of the company's stock, 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 SEC, which is available through the SEC website. 6.60% of the stock is owned by corporate insiders.

Tidewater Trading Up 0.6%

Shares of TDW stock traded up $0.38 during trading hours on Monday, reaching $59.59. The company had a trading volume of 185,722 shares, compared to its average volume of 1,029,276. The company has a 50 day moving average of $54.99 and a 200 day moving average of $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. The firm has a market cap of $2.95 billion, a price-to-earnings ratio of 15.44 and a beta of 1.09. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $79.43.

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

Tidewater declared that its board has approved a share repurchase program on Monday, August 4th that allows the company to buyback $500.00 million in 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 programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Zacks Research raised 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 Tidewater from $60.00 to $67.00 and gave the stock 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 given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Tidewater has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Tidewater 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.