102,229 Shares in Tidewater Inc. $TDW Purchased by Moerus Capital Management LLC

Key Points

• Moerus Capital Management LLC acquired 102,229 shares of Tidewater Inc. valued at approximately $4.32 million, making it the 9th largest position in their investment portfolio.
• Several hedge funds have increased their holdings in Tidewater, with Robotti Robert boosting their position by 8.5% to own nearly 2.86 million shares worth about $120.75 million.
• Tidewater recently initiated a stock buyback program allowing the company to repurchase up to $500 million in shares, indicating a belief that their stock is currently undervalued.

Moerus Capital Management LLC bought a new stake in shares of Tidewater Inc. (NYSE:TDW - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 102,229 shares of the oil and gas company's stock, valued at approximately $4,321,000. Tidewater makes up about 1.9% of Moerus Capital Management LLC's investment portfolio, making the stock its 9th biggest position. Moerus Capital Management LLC owned approximately 0.21% of Tidewater as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TDW. Price T Rowe Associates Inc. MD grew its stake in Tidewater by 20.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock valued at $126,180,000 after acquiring an additional 390,814 shares during the period. Dimensional Fund Advisors LP grew its stake in Tidewater by 22.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock valued at $84,888,000 after acquiring an additional 286,097 shares during the period. Encompass Capital Advisors LLC grew its stake in Tidewater by 17.7% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after acquiring an additional 238,170 shares during the period. Freestone Grove Partners LP acquired a new stake in Tidewater in the 4th quarter valued at $12,574,000. Finally, Robotti Robert grew its stake in Tidewater by 8.5% in the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after acquiring an additional 223,651 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Trading Down 3.5%

Shares of NYSE TDW traded down $2.05 during trading on Tuesday, hitting $56.47. 306,438 shares of the company were exchanged, compared to its average volume of 1,073,768. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $91.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The company has a fifty day moving average price of $50.49 and a 200-day moving average price of $45.13. The firm has a market capitalization of $2.79 billion, a PE ratio of 14.65 and a beta of 1.08.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 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 previous year, the firm earned $0.94 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Tidewater Inc. will post 3.25 EPS for the current year.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. BTIG Research cut shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Raymond James Financial dropped their price target 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. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Evercore ISI raised their price objective on Tidewater from $60.00 to $67.00 and gave the company 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 given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

Insider Buying and Selling at Tidewater

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

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.