Fermata Advisors LLC Makes New Investment in Tidewater Inc. $TDW

Key Points

• Fermata Advisors LLC has acquired a new stake in Tidewater Inc. by purchasing 4,835 shares valued at approximately $223,000 during the second quarter.
• Several institutional investors, including Gallacher Capital Management and Salem Investment Counselors, have significantly increased their holdings in Tidewater Inc. this quarter, indicating strong investor interest.
• Tidewater's recent earnings report showed an EPS of $1.23, exceeding analyst expectations, along with a share buyback plan of $500 million, suggesting that the company's management views its stock as undervalued.

Fermata Advisors LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,835 shares of the oil and gas company's stock, valued at approximately $223,000.

Several other institutional investors have also recently modified their holdings of TDW. Northwestern Mutual Wealth Management Co. raised its position in shares of Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 650 shares during the last quarter. Bogart Wealth LLC purchased a new stake in Tidewater in the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Tidewater in the 1st quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd grew its stake in Tidewater by 2,510.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company's stock worth $42,000 after acquiring an additional 954 shares during the period. Finally, Signaturefd LLC grew its stake in Tidewater by 33.3% in 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 period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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 shares were 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 of the company's stock, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.60% of the company's stock.

Tidewater Stock Up 0.4%

Tidewater stock traded up $0.24 during trading on Thursday, reaching $57.29. 587,602 shares of the company's stock were exchanged, compared to its average volume of 627,537. The company's 50-day moving average is $55.50 and its two-hundred day moving average is $46.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $79.43. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 14.84 and a beta of 1.09.

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

Tidewater declared that its Board of Directors has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on TDW shares. BTIG Research cut shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, Evercore ISI boosted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.