Alhambra Investment Management LLC Purchases New Stake in Tidewater Inc. $TDW

Key Points

• Alhambra Investment Management LLC acquired a new stake in Tidewater Inc. by purchasing 4,596 shares valued at approximately $212,000 during the second quarter.
• Institutional investors now own 95.13% of Tidewater's stock, reflecting a strong interest from major investment firms.
• Tidewater's recent quarterly earnings exceeded expectations with an EPS of $1.23, significantly higher than the consensus estimate of $0.28.

Alhambra Investment Management LLC purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 4,596 shares of the oil and gas company's stock, valued at approximately $212,000.

Several other hedge funds have also added to or reduced their stakes in TDW. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Tidewater by 8.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company's stock valued at $2,347,000 after acquiring an additional 3,325 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Tidewater by 24,310.4% during the 1st quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock valued at $4,767,000 after acquiring an additional 112,314 shares during the last quarter. Presidio Capital Management LLC bought a new stake in shares of Tidewater during the 1st quarter valued at $226,000. Rhumbline Advisers raised its position in shares of Tidewater by 0.7% during the 1st quarter. Rhumbline Advisers now owns 131,534 shares of the oil and gas company's stock valued at $5,560,000 after acquiring an additional 943 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its position in shares of Tidewater by 25.6% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,322 shares of the oil and gas company's stock valued at $267,000 after acquiring an additional 1,287 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Activity at Tidewater

In other 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 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 document filed with the SEC, which is available through this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TDW. Fearnley Fonds upgraded Tidewater to a "hold" rating in a report on Tuesday, September 16th. Evercore ISI raised 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. BTIG Research cut Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Finally, Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of "Moderate Buy" and an average target price of $69.00.

Tidewater Trading Up 1.1%

NYSE TDW opened at $55.26 on Wednesday. The firm has a market cap of $2.73 billion, a P/E ratio of 14.32 and a beta of 1.09. 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 stock's 50-day moving average is $55.78 and its 200-day moving average is $46.62. Tidewater Inc. has a one year low of $31.17 and a one year high of $79.43.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results 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. The company 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 was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. Sell-side analysts anticipate 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 share buyback plan on Monday, August 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 21.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

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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