Price T Rowe Associates Inc. MD Has $165.06 Million Stake in Tidewater Inc. $TDW

Key Points

• Price T Rowe Associates Inc. MD increased its holdings in Tidewater Inc. by 69.3% in the first quarter, owning approximately 7.89% of the company, valued at $165 million.
• Tidewater's recent earnings report showed an EPS of $1.23, significantly beating estimates. The company also announced a $500 million stock repurchase plan, indicating management's belief that shares are undervalued.
• Analysts have mixed opinions on Tidewater, with target prices ranging from $60.00 to $76.00, and an overall average rating of “Moderate Buy.”

Price T Rowe Associates Inc. MD grew its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 69.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,904,826 shares of the oil and gas company's stock after acquiring an additional 1,598,513 shares during the quarter. Price T Rowe Associates Inc. MD owned about 7.89% of Tidewater worth $165,058,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. LPL Financial LLC increased its stake in shares of Tidewater by 23.2% in the fourth quarter. LPL Financial LLC now owns 6,944 shares of the oil and gas company's stock valued at $380,000 after purchasing an additional 1,309 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Tidewater in the 4th quarter worth $4,347,000. Mariner LLC lifted its holdings in Tidewater by 152.8% in the 4th quarter. Mariner LLC now owns 22,864 shares of the oil and gas company's stock valued at $1,251,000 after acquiring an additional 13,820 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Tidewater by 66.3% in the 4th quarter. NewEdge Advisors LLC now owns 10,439 shares of the oil and gas company's stock worth $571,000 after purchasing an additional 4,161 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Tidewater by 22.6% during 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 last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti acquired 15,000 shares of Tidewater stock in a transaction dated Wednesday, June 4th. The stock was bought at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel A. Hudson sold 10,000 shares of the business's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total transaction of $575,600.00. Following the transaction, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. This trade represents a 11.63% decrease in their position. The disclosure for this sale can be found here. 6.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Evercore ISI lifted their price target 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 raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 13th. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Finally, Raymond James Financial lowered their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Tidewater Stock Down 0.6%

Shares of NYSE:TDW traded down $0.39 on Friday, reaching $59.69. The company had a trading volume of 216,153 shares, compared to its average volume of 1,054,463. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average price of $52.30 and a 200 day moving average price of $45.51. The stock has a market capitalization of $2.95 billion, a P/E ratio of 15.48 and a beta of 1.08. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $90.49.

Tidewater (NYSE:TDW - Get Free Report) last announced its 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. The firm had revenue of $341.43 million for the quarter, compared to the consensus estimate of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. On average, equities analysts expect that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater announced that its board has authorized a share repurchase 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 repurchase up to 21.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

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.