Dakota Wealth Management Acquires Shares of 18,379 Tidewater Inc. $TDW

Key Points

• Dakota Wealth Management has acquired 18,379 shares of Tidewater Inc. for approximately $848,000 during the second quarter, indicating growing institutional interest in the company.
• Tidewater has received analysis upgrades, with Zacks Research raising its rating from "hold" to "strong-buy," while the stock has a consensus rating of "Moderate Buy" with a price target of $69.00.
• The company recently reported earnings of $1.23 per share, significantly surpassing analysts' expectations, and announced a $500 million share buyback plan as a sign of confidence in its valuation.

Dakota Wealth Management acquired a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,379 shares of the oil and gas company's stock, valued at approximately $848,000.

A number of other large investors also recently made changes to their positions in TDW. Price T Rowe Associates Inc. MD increased its stake in shares of Tidewater by 69.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock worth $165,058,000 after purchasing an additional 1,598,513 shares during the period. Robotti Robert boosted its holdings in shares of Tidewater by 8.5% during the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after acquiring an additional 223,651 shares in the last quarter. Third Avenue Management LLC boosted its holdings in shares of Tidewater by 37.6% during the 1st quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company's stock valued at $34,207,000 after acquiring an additional 221,079 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Tidewater by 271.7% during the 1st quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company's stock valued at $12,484,000 after acquiring an additional 215,891 shares in the last quarter. Finally, Aegis Financial Corp acquired a new stake in shares of Tidewater during the 1st quarter valued at $8,527,000. Institutional investors own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TDW. Zacks Research raised Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Evercore ISI raised their price objective on Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Fearnley Fonds raised Tidewater to a "hold" rating in a report on Tuesday, September 16th. Finally, BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Tidewater Stock Performance

Shares of Tidewater stock opened at $57.59 on Friday. 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 business has a 50-day simple moving average of $56.37 and a 200 day simple moving average of $46.97. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 14.92 and a beta of 1.09. Tidewater Inc. has a one year low of $31.17 and a one year high of $74.57.

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 (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company had revenue of $341.43 million during the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the company posted $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. On average, research 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 usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total value of $575,600.00. Following the sale, the executive vice president owned 75,986 shares in the company, valued at approximately $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.60% of the company's stock.

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.

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