Cetera Investment Advisers Invests $325,000 in Tidewater Inc. $TDW

Key Points

• Cetera Investment Advisers has made a new investment in Tidewater Inc. by purchasing 7,696 shares valued at approximately $325,000 during the first quarter.
• Institutional investors and hedge funds own a significant majority of Tidewater's stock, with approximately 95.13% held by these entities, demonstrating strong institutional interest in the company.
• Tidewater recently declared a $500 million share buyback plan, indicating the Board's belief that the stock is undervalued, while also reporting better-than-expected earnings with $1.23 earnings per share in its latest quarter.

Cetera Investment Advisers purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 7,696 shares of the oil and gas company's stock, valued at approximately $325,000.

Other large investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in Tidewater by 20.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock worth $126,180,000 after purchasing an additional 390,814 shares during the period. Encompass Capital Advisors LLC lifted its holdings in shares of Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after purchasing an additional 238,170 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after buying an additional 286,097 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Tidewater by 13.2% during the fourth quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock valued at $47,473,000 after buying an additional 101,159 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in Tidewater by 51.5% during the fourth quarter. Frontier Capital Management Co. LLC now owns 624,236 shares of the oil and gas company's stock valued at $34,152,000 after buying an additional 212,189 shares during the period. Institutional investors own 95.13% of the company's stock.

Tidewater Stock Up 4.9%

TDW traded up $2.85 during midday trading on Friday, hitting $60.80. 1,250,514 shares of the company's stock traded hands, compared to its average volume of 1,091,007. The company has a market cap of $3.01 billion, a PE ratio of 15.75 and a beta of 1.08. The stock's fifty day simple moving average is $51.27 and its 200-day simple moving average is $45.24. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04. Tidewater Inc. has a one year low of $31.17 and a one year high of $91.40.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly 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 company had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. Tidewater'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. As a group, equities analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater declared that its board has approved 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 reacquire up to 21.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Tidewater

In other Tidewater 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Robotti purchased 15,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were bought at an average price of $42.05 per share, with a total value of $630,750.00. Following the purchase, the director owned 2,234,957 shares in the company, valued at $93,979,941.85. This represents a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 25,560 shares of company stock worth $1,074,858 over the last three months. Company insiders own 6.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on TDW. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Evercore ISI increased 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. Raymond James Financial decreased their price target on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.00.

About Tidewater

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.