Punch & Associates Investment Management Inc. Grows Stock Holdings in Tidewater Inc. $TDW

Key Points

• Punch & Associates Investment Management Inc. increased its holdings in Tidewater Inc. by 4.4%, now owning approximately 336,282 shares valued at $14.2 million.
• Tidewater's recent quarterly earnings significantly exceeded expectations, reporting $1.23 earnings per share against a consensus estimate of $0.28, alongside a revenue of $341.43 million.
• The company has authorized a $500 million stock repurchase plan, allowing it to buy back up to 21.3% of its shares, signaling management's belief in the stock's undervalued position.

Punch & Associates Investment Management Inc. raised its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 336,282 shares of the oil and gas company's stock after purchasing an additional 14,295 shares during the period. Punch & Associates Investment Management Inc. owned approximately 0.68% of Tidewater worth $14,215,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TDW. Northwestern Mutual Wealth Management Co. grew its stake in shares of Tidewater by 2,321.4% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock valued at $29,000 after buying an additional 650 shares during the last quarter. Bogart Wealth LLC bought a new position in shares of Tidewater during the first quarter valued at about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tidewater during the first quarter valued at about $40,000. Caitong International Asset Management Co. Ltd grew its stake 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 valued at $42,000 after buying an additional 954 shares during the last quarter. Finally, Signaturefd LLC grew its stake 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 valued at $48,000 after buying an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Trading Up 0.9%

NYSE TDW opened at $57.73 on Friday. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $79.43. 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 stock has a 50 day simple moving average of $53.82 and a two-hundred day simple moving average of $45.68. The stock has a market cap of $2.86 billion, a P/E ratio of 14.95 and a beta of 1.09.

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 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 during the quarter, compared to analysts' expectations of $317.28 million. During the same quarter last year, the business posted $0.94 EPS. The business's revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. On average, analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater declared that its Board of Directors has approved a stock repurchase plan on Monday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to reacquire up to 21.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TDW. BTIG Research cut shares of Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Zacks Research upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Evercore ISI raised their target price 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 equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Insider Buying and Selling

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 stock was sold at an average price of $57.56, for a total transaction of $575,600.00. Following the completion of the transaction, the executive vice president 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate 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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