Financial Enhancement Group LLC Purchases Shares of 21,083 Tidewater Inc. $TDW

Key Points

• Financial Enhancement Group LLC acquired 21,083 shares of Tidewater Inc. worth approximately $973,000 in the second quarter.
• Tidewater's stock has seen significant interest from institutional investors, with over 95% of shares owned by such entities, including notable increases in stakes by several firms.
• Analyst ratings for Tidewater have shown a positive trend, with Zacks Research upgrading the stock to a "strong-buy" and an average target price of $69.00 being set.

Financial Enhancement Group LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,083 shares of the oil and gas company's stock, valued at approximately $973,000.

Several other hedge funds have also recently bought and sold shares of TDW. Northwestern Mutual Wealth Management Co. boosted 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 acquiring an additional 650 shares in the last quarter. Bogart Wealth LLC bought a new position in shares of Tidewater in the 1st quarter valued at $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tidewater in the 1st quarter valued at $40,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Tidewater by 2,510.5% during 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 buying an additional 954 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock valued at $48,000 after buying an additional 282 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Trading Down 2.3%

Shares of NYSE:TDW traded down $1.26 during trading on Monday, reaching $54.72. The stock had a trading volume of 649,835 shares, compared to its average volume of 637,609. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $79.43. The firm's fifty day moving average is $55.65 and its 200 day moving average is $46.56. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 14.18 and a beta of 1.09. 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 (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, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $317.28 million. During the same period in the previous year, the business earned $0.94 EPS. The firm's revenue was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a stock 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 usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Daniel A. Hudson sold 10,000 shares of the company's stock in a transaction dated 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 owned 75,986 shares in the company, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TDW shares. Evercore ISI boosted their target price on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. BTIG Research cut shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Finally, Fearnley Fonds upgraded Tidewater to a "hold" rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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.