Jump Financial LLC Acquires Shares of 5,705 Tidewater Inc. $TDW

Key Points

• Jump Financial LLC acquired 5,705 shares of Tidewater Inc. valued at approximately $241,000, marking a new investment position in the company.
• Tidewater reported a strong quarterly performance with $1.23 EPS, significantly exceeding the consensus estimate of $0.28 and showcasing a slight year-over-year revenue increase.
• The company has initiated a $500 million stock repurchase plan, indicating that the board believes the stock is undervalued.

Jump Financial LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,705 shares of the oil and gas company's stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TDW. Northwestern Mutual Wealth Management Co. raised its stake in Tidewater by 2,321.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock valued at $29,000 after buying an additional 650 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Tidewater in the first quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Tidewater in the first quarter valued at about $40,000. Caitong International Asset Management Co. Ltd raised its stake in Tidewater by 2,510.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company's stock valued at $42,000 after buying an additional 954 shares during the last quarter. Finally, Signaturefd LLC raised its stake in Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after buying an additional 282 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. 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 note on Wednesday, August 6th. BTIG Research cut Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Finally, Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research note 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Buying and Selling

In related news, EVP Daniel A. Hudson sold 10,000 shares of the firm's 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 sale, the executive vice president directly owned 75,986 shares of the company's stock, valued at $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is currently owned by company insiders.

Tidewater Stock Performance

Tidewater stock traded down $0.41 during midday trading on Tuesday, hitting $58.67. 159,044 shares of the company were exchanged, compared to its average volume of 1,041,307. The firm has a market capitalization of $2.90 billion, a PE ratio of 15.20 and a beta of 1.09. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $79.43. The business has a fifty day simple moving average of $54.07 and a two-hundred day simple moving average of $45.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11.

Tidewater (NYSE:TDW - Get Free Report) last posted 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 firm had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.Tidewater's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its board has approved a stock repurchase program 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 programs are usually an indication that the company's leadership believes its shares are undervalued.

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.