Tejara Capital Ltd Trims Stock Position in Tidewater Inc. $TDW

Key Points

• Tejara Capital Ltd reduced its holdings in Tidewater Inc. by 14.1% during Q1, now owning 34,000 shares worth approximately $1.44 million.
• Tidewater's most recent quarterly earnings showed an EPS of $1.23, significantly exceeding the consensus estimate of $0.28, with a revenue of $341.43 million.
• The company has authorized a substantial stock buyback plan of $500 million, reflecting confidence in the value of its stock.

Tejara Capital Ltd lessened its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 14.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 34,000 shares of the oil and gas company's stock after selling 5,600 shares during the period. Tejara Capital Ltd owned 0.07% of Tidewater worth $1,437,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Fox Run Management L.L.C. bought a new stake in shares of Tidewater in the first quarter worth about $287,000. Moerus Capital Management LLC bought a new stake in shares of Tidewater in the first quarter worth about $4,321,000. Robotti Robert increased its stake in Tidewater by 8.5% during the first quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock worth $120,750,000 after acquiring an additional 223,651 shares during the last quarter. Boston Partners increased its stake in Tidewater by 10.1% during the first quarter. Boston Partners now owns 23,281 shares of the oil and gas company's stock worth $984,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position 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 period. Hedge funds and other institutional investors own 95.13% of the company's stock.

Tidewater Stock Performance

Shares of NYSE TDW traded down $1.9910 during mid-day trading on Tuesday, hitting $56.5290. The stock had a trading volume of 630,040 shares, compared to its average volume of 1,075,096. The company has a 50 day moving average of $50.49 and a two-hundred day moving average of $45.13. The firm has a market cap of $2.80 billion, a PE ratio of 14.64 and a beta of 1.08. 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 twelve month low of $31.17 and a twelve month high of $91.40.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $341.43 million for the quarter, compared to the consensus estimate of $317.28 million. During the same period last year, the firm earned $0.94 EPS. The firm's revenue for the quarter was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. Research analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has approved a stock 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 reacquire up to 21.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at Tidewater

In other Tidewater news, Director Robert Robotti acquired 15,000 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was bought at an average price of $42.05 per share, for a total transaction of $630,750.00. Following the acquisition, the director 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 SEC, which is available through the SEC website. Also, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president owned 75,986 shares of the company's stock, valued at $4,373,754.16. This represents a 11.63% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 25,560 shares of company stock worth $1,074,858 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TDW. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Raymond James Financial reduced their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Evercore ISI boosted their price objective on shares of Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research note 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $69.00.

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.