GM Advisory Group LLC Takes Position 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) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the oil and gas company's stock, valued at approximately $423,000.

Other large investors have also recently bought and sold shares of the company. Bogart Wealth LLC bought a new stake in shares of Tidewater in the first quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater in the first quarter worth about $40,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Tidewater by 2,510.5% during the first 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 in the last quarter. Signaturefd LLC increased its holdings in shares of Tidewater by 33.3% during the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock worth $48,000 after buying an additional 282 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Tidewater by 14.1% during the first quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company's stock worth $88,000 after buying an additional 256 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the transaction, the executive vice president directly owned 75,986 shares of the company's stock, valued at approximately $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Robotti bought 15,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was purchased at an average price of $42.05 per share, with a total value of $630,750.00. Following the acquisition, the director owned 2,234,957 shares of the company's stock, valued at $93,979,941.85. The trade was a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 25,560 shares of company stock worth $1,074,858. 6.60% of the stock is owned by insiders.

Tidewater Price Performance

TDW stock traded down $0.14 during trading on Tuesday, reaching $59.66. 139,966 shares of the company were exchanged, compared to its average volume of 1,063,883. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $90.49. The company has a 50-day moving average of $51.52 and a two-hundred day moving average of $45.28. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 15.45 and a beta of 1.08.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, beating 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 company had revenue of $341.43 million for the quarter, compared to analyst estimates of $317.28 million. During the same period in the prior year, the firm posted $0.94 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. As a group, equities analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its board has initiated a share repurchase program on Monday, August 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the oil and gas company to reacquire up to 21.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Raymond James Financial reduced their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Evercore ISI raised 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. Finally, BTIG Research lowered shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. One investment 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

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.