Punch & Associates Investment Management Inc. Has $14.22 Million Stake 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. lifted its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 4.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 336,282 shares of the oil and gas company's stock after buying an additional 14,295 shares during the quarter. Punch & Associates Investment Management Inc. owned about 0.68% of Tidewater worth $14,215,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TDW. Northern Trust Corp boosted its holdings in Tidewater by 6.2% in the fourth quarter. Northern Trust Corp now owns 495,350 shares of the oil and gas company's stock valued at $27,101,000 after acquiring an additional 28,859 shares during the last quarter. Comerica Bank boosted its holdings in Tidewater by 67.1% in the fourth quarter. Comerica Bank now owns 30,607 shares of the oil and gas company's stock valued at $1,675,000 after acquiring an additional 12,287 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Tidewater by 13.2% in the fourth quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock valued at $47,473,000 after acquiring an additional 101,159 shares during the last quarter. Captrust Financial Advisors boosted its stake in Tidewater by 26.5% in the fourth quarter. Captrust Financial Advisors now owns 6,659 shares of the oil and gas company's stock valued at $364,000 after acquiring an additional 1,394 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in Tidewater by 73.5% in 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 acquiring an additional 205,887 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

Insider Activity

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater 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 owned 75,986 shares of the company's stock, valued at $4,373,754.16. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have 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. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Evercore ISI upped 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 equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Tidewater has an average rating of "Moderate Buy" and an average target price of $69.00.

Tidewater Trading Down 0.6%

NYSE:TDW traded down $0.38 on Thursday, reaching $59.62. The company's stock had a trading volume of 462,449 shares, compared to its average volume of 1,038,029. Tidewater Inc. has a 1-year low of $31.17 and a 1-year 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 business's 50-day moving average price is $54.54 and its two-hundred day moving average price is $45.83. The firm has a market cap of $2.95 billion, a PE ratio of 15.45 and a beta of 1.09.

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

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

About Tidewater

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.