Fox Run Management L.L.C. Invests $287,000 in Tidewater Inc. $TDW

Key Points

• Fox Run Management L.L.C. has acquired a total of 6,780 shares of Tidewater Inc., valued at approximately $287,000, reflecting growing interest in the company among investors.
• Tidewater announced a significant $500 million share repurchase program, indicating the board's belief that the company’s stock is undervalued.
• The company reported earnings of $1.23 per share for the last quarter, exceeding analysts' expectations by a wide margin and marking a year-over-year revenue increase.

Fox Run Management L.L.C. acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,780 shares of the oil and gas company's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also bought and sold shares of TDW. Bogart Wealth LLC bought a new stake in shares of Tidewater in the 1st quarter valued at about $30,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 worth $42,000 after buying an additional 954 shares during the period. Signaturefd LLC boosted its position in shares of Tidewater by 33.3% during the first 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 in the last quarter. Covestor Ltd increased its stake in shares of Tidewater by 14.1% in the 1st 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Tidewater by 477.5% during the first quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 2,206 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti acquired 15,000 shares of Tidewater stock in a transaction that occurred on Wednesday, June 4th. The stock was bought at an average price of $42.05 per share, with a total value of $630,750.00. Following the completion of the purchase, the director directly owned 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. This represents a 0.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have acquired a total of 25,560 shares of company stock worth $1,074,858 in the last three months. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James Financial cut their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. BTIG Research lowered shares of Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Evercore ISI upped their price target 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. One 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Tidewater Trading Up 4.9%

Shares of NYSE TDW traded up $2.85 during mid-day trading on Friday, reaching $60.80. The company had a trading volume of 1,250,514 shares, compared to its average volume of 1,046,882. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 15.75 and a beta of 1.08. The business's 50-day moving average is $51.27 and its 200-day moving average is $45.37. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.40. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $0.94 earnings per share. Tidewater's quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities analysts expect 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 program on Monday, August 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is 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.