8,882 Shares in Tidewater Inc. (NYSE:TDW) Bought by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP acquired 8,882 shares of Tidewater Inc., valued at approximately $375,000, marking a new stake during the first quarter.
• Tidewater reported a net margin of 14.62% and earnings per share of $1.23 for the last quarter, exceeding analysts' expectations.
• The company's board authorized a $500 million share buyback plan, indicating confidence that its stock is currently undervalued.

Aigen Investment Management LP bought a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 8,882 shares of the oil and gas company's stock, valued at approximately $375,000.

Other institutional investors have also recently made changes to their positions in the company. Bogart Wealth LLC acquired a new position in shares of Tidewater during the 1st quarter worth approximately $30,000. Signaturefd LLC increased its holdings in shares of Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock worth $48,000 after acquiring an additional 282 shares during the last quarter. Covestor Ltd increased its holdings in shares of Tidewater by 14.1% during 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of Tidewater by 477.5% during the 1st quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock worth $113,000 after acquiring an additional 2,206 shares during the last quarter. Finally, Graham Capital Management L.P. acquired a new position in shares of Tidewater during the 4th quarter worth approximately $211,000. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Price Performance

Shares of NYSE:TDW traded up $0.21 during trading on Friday, reaching $56.05. 507,563 shares of the company traded hands, compared to its average volume of 1,059,298. The company's 50 day moving average is $50.24 and its two-hundred day moving average is $45.18. The firm has a market capitalization of $2.77 billion, a PE ratio of 14.52 and a beta of 1.08. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.40.

Tidewater (NYSE:TDW - Get Free Report) last released its 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 firm had revenue of $341.43 million during 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 company's revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 EPS. As a group, sell-side analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its Board of Directors has authorized a stock 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 purchase up to 21.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Daniel A. Hudson sold 10,000 shares of the company's stock in a transaction on 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. This represents a 11.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Robotti acquired 15,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were acquired at an average price of $42.05 per share, with a total value of $630,750.00. Following the completion of the transaction, the director owned 2,234,957 shares in the company, valued at $93,979,941.85. The trade was a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 25,560 shares of company stock valued at $1,074,858. Corporate insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Evercore ISI boosted their target price on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial decreased their target price on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $69.00.

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.