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 shares of Tidewater Inc. (NYSE:TDW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,696 shares of the oil and gas company's stock, valued at approximately $325,000.

Other large investors have also recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of Tidewater by 23.2% in the 4th quarter. LPL Financial LLC now owns 6,944 shares of the oil and gas company's stock worth $380,000 after purchasing an additional 1,309 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Tidewater by 12.9% in the 4th quarter. Bank of Montreal Can now owns 5,313 shares of the oil and gas company's stock worth $291,000 after purchasing an additional 608 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Tidewater in the 4th quarter worth approximately $4,347,000. Barclays PLC boosted its position in shares of Tidewater by 81.8% in the 4th quarter. Barclays PLC now owns 143,374 shares of the oil and gas company's stock worth $7,844,000 after purchasing an additional 64,526 shares in the last quarter. Finally, Mariner LLC boosted its position in shares of Tidewater by 152.8% in the 4th quarter. Mariner LLC now owns 22,864 shares of the oil and gas company's stock worth $1,251,000 after purchasing an additional 13,820 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analysts Forecast Growth

TDW has been the subject of a number of recent analyst reports. Evercore ISI boosted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th. BTIG Research lowered shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Raymond James Financial reduced their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $69.00.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti acquired 15,000 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the acquisition, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. This represents a 0.68% increase in their position. The transaction 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 Tidewater stock in a transaction that occurred on Tuesday, August 5th. The shares were 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 approximately $4,373,754.16. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 25,560 shares of company stock worth $1,074,858. Corporate insiders own 6.60% of the company's stock.

Tidewater Trading Up 4.9%

Shares of NYSE:TDW traded up $2.85 during trading on Friday, reaching $60.80. The company's stock had a trading volume of 1,250,514 shares, compared to its average volume of 1,070,527. 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 Inc. has a 12 month low of $31.17 and a 12 month high of $91.40. The firm's 50 day simple moving average is $51.02 and its two-hundred day simple moving average is $45.33. The stock has a market capitalization of $3.01 billion, a PE ratio of 15.75 and a beta of 1.08.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.95. The business had revenue of $341.43 million during the quarter, compared to the consensus estimate of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. On average, research analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a stock buyback plan on Monday, August 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.