Privium Fund Management B.V. Takes $255,000 Position in Tidewater Inc. $TDW

Key Points

• Privium Fund Management B.V. has acquired a new position in Tidewater Inc., purchasing 5,350 shares valued at approximately $255,000 during the second quarter.
• Several large institutional investors, including Price T Rowe Associates and Third Avenue Management, significantly increased their stakes in Tidewater in the first quarter, indicating strong investor interest in the company.
• Tidewater recently announced a share buyback plan allowing repurchase of $500 million in shares, reflecting management's belief that the stock is undervalued.

Privium Fund Management B.V. acquired a new position in Tidewater Inc. (NYSE:TDW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,350 shares of the oil and gas company's stock, valued at approximately $255,000.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Tidewater by 69.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock valued at $165,058,000 after purchasing an additional 1,598,513 shares during the period. Robotti Robert lifted its stake in shares of Tidewater by 8.5% in the first quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after buying an additional 223,651 shares during the period. Third Avenue Management LLC lifted its stake in shares of Tidewater by 37.6% in the first quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company's stock valued at $34,207,000 after buying an additional 221,079 shares during the period. Hosking Partners LLP grew its position in Tidewater by 81.0% during the first quarter. Hosking Partners LLP now owns 394,257 shares of the oil and gas company's stock worth $16,665,000 after buying an additional 176,494 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its stake in Tidewater by 4.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 336,282 shares of the oil and gas company's stock valued at $14,215,000 after acquiring an additional 14,295 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Tidewater in a report on Wednesday, October 8th. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Evercore ISI boosted their price target on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Zacks Research downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Monday, October 6th. Finally, Fearnley Fonds upgraded shares of Tidewater to a "hold" rating in a research report on Tuesday, September 16th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $69.00.

Tidewater Stock Down 1.0%

Shares of NYSE:TDW opened at $47.84 on Tuesday. The company's fifty day moving average is $55.83 and its 200-day moving average is $48.08. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $65.76. The company has a market capitalization of $2.37 billion, a PE ratio of 12.39 and a beta of 1.05.

Tidewater (NYSE:TDW - Get Free Report) last announced its earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.95. The business had revenue of $341.43 million during the quarter, compared to analysts' expectations of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater declared that its board has initiated a share buyback plan on Monday, August 4th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity

In other news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.

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