Graham Capital Management L.P. Has $633,000 Holdings in Tidewater Inc. $TDW

Key Points

• Graham Capital Management L.P. has increased its position in Tidewater Inc. by 288.6%, owning 14,981 shares valued at approximately $633,000 following the acquisition of an additional 11,126 shares.
• Other hedge funds have similarly boosted their stake in Tidewater, with Northwestern Mutual Wealth Management increasing its position by 2,321.4% and several others establishing new investments.
• Tidewater recently announced a stock repurchase program, authorizing the company to buy back $500 million worth of its shares, representing up to 21.3% of its total shares outstanding.

Graham Capital Management L.P. grew its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 288.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,981 shares of the oil and gas company's stock after purchasing an additional 11,126 shares during the period. Graham Capital Management L.P.'s holdings in Tidewater were worth $633,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Northern Trust Corp grew its position in Tidewater by 6.2% during the fourth quarter. Northern Trust Corp now owns 495,350 shares of the oil and gas company's stock worth $27,101,000 after buying an additional 28,859 shares in the last quarter. Comerica Bank lifted its position in shares of Tidewater by 67.1% in the 4th quarter. Comerica Bank now owns 30,607 shares of the oil and gas company's stock worth $1,675,000 after acquiring an additional 12,287 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Tidewater by 13.2% during the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock worth $47,473,000 after purchasing an additional 101,159 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Tidewater by 26.5% during the 4th quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock worth $364,000 after purchasing an additional 1,394 shares in the last quarter. Finally, Deutsche Bank AG increased its position in shares of Tidewater by 73.5% during the fourth quarter. Deutsche Bank AG now owns 486,151 shares of the oil and gas company's stock valued at $26,597,000 after purchasing an additional 205,887 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Price Performance

TDW stock traded down $0.38 during trading on Thursday, hitting $59.62. The company had a trading volume of 462,753 shares, compared to its average volume of 646,584. The company has a fifty day moving average price of $54.77 and a two-hundred day moving average price of $45.90. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The company has a market cap of $2.95 billion, a P/E ratio of 15.45 and a beta of 1.09. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $79.43.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $341.43 million during the quarter, compared to analyst estimates of $317.28 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The business's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a stock buyback program on Monday, August 4th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TDW shares. BTIG Research cut Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Tidewater presently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Buying and Selling at Tidewater

In related news, EVP Daniel A. Hudson sold 10,000 shares of the 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 completion of the sale, the executive vice president owned 75,986 shares in the company, valued at $4,373,754.16. This trade represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.60% of the company's stock.

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.