GM Advisory Group LLC Invests $423,000 in Tidewater Inc. $TDW

Key Points

• GM Advisory Group LLC invested $423,000 in Tidewater Inc. by acquiring 10,000 shares of the company during the first quarter of the year.
• Tidewater's quarterly earnings exceeded expectations with earnings per share reported at $1.23, significantly higher than the consensus estimate of $0.28.
• The company has announced a $500 million stock repurchase program, indicating confidence in its stock being undervalued according to its leadership.

GM Advisory Group LLC acquired a new position in Tidewater Inc. (NYSE:TDW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,000 shares of the oil and gas company's stock, valued at approximately $423,000.

Several other large investors have also bought and sold shares of the stock. Bogart Wealth LLC acquired a new stake in shares of Tidewater in the first quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Tidewater in the first quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd increased its position in 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 valued at $42,000 after purchasing an additional 954 shares during the period. Signaturefd LLC raised its holdings in Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock worth $48,000 after purchasing an additional 282 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of Tidewater by 14.1% in the 1st quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company's stock worth $88,000 after purchasing an additional 256 shares during the period. 95.13% of the stock is owned by institutional investors.

Insider Buying and Selling at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the business'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 owned 75,986 shares in the company, valued at approximately $4,373,754.16. The trade was a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert Robotti acquired 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the purchase, the director directly owned 2,234,957 shares of the company's stock, valued at approximately $93,979,941.85. This represents a 0.68% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 25,560 shares of company stock valued at $1,074,858. 6.60% of the stock is currently owned by insiders.

Tidewater Price Performance

TDW stock opened at $55.9260 on Thursday. 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 company's 50-day moving average is $50.83 and its 200-day moving average is $45.29. The stock has a market capitalization of $2.77 billion, a PE ratio of 14.49 and a beta of 1.08. Tidewater Inc. has a 1 year low of $31.17 and a 1 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 earnings per share (EPS) for the quarter, topping 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 business had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. During the same quarter in the prior year, the company earned $0.94 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has approved a stock repurchase program on Monday, August 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

TDW has been the subject of several recent analyst reports. Evercore ISI increased their price objective 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. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Raymond James Financial dropped their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, BTIG Research cut Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. One equities research 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.00.

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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