Tidewater Inc. $TDW Shares Sold by Tejara Capital Ltd

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 trimmed its position in Tidewater Inc. (NYSE:TDW - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,000 shares of the oil and gas company's stock after selling 5,600 shares during the quarter. Tejara Capital Ltd owned about 0.07% of Tidewater worth $1,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company's stock valued at $126,180,000 after acquiring an additional 390,814 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tidewater by 22.6% in the fourth 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. Encompass Capital Advisors LLC lifted its stake in shares of Tidewater by 17.7% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after purchasing an additional 238,170 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Tidewater in the 4th quarter valued at $12,574,000. Finally, Robotti Robert lifted its stake in shares of Tidewater by 8.5% in the 1st quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after purchasing an additional 223,651 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert Robotti acquired 15,000 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were bought at an average price of $42.05 per share, with a total value of $630,750.00. Following the completion of the acquisition, the director owned 2,234,957 shares in the company, valued at $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 directly owned 75,986 shares in the company, valued at approximately $4,373,754.16. The trade was a 11.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 25,560 shares of company stock worth $1,074,858. 6.60% of the stock is owned by insiders.

Tidewater Stock Down 1.2%

Shares of TDW traded down $0.6540 during midday trading on Wednesday, reaching $55.9260. The stock had a trading volume of 578,473 shares, compared to its average volume of 1,058,245. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $91.40. The company's fifty day simple moving average is $50.83 and its two-hundred day simple moving average is $45.29. The company has a market cap of $2.77 billion, a price-to-earnings ratio of 14.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, beating 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 earned $0.94 EPS. The company's revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its Board of Directors has approved a stock buyback program on Monday, August 4th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 21.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

TDW has been the topic of several recent analyst reports. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Evercore ISI increased their target price 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 upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Finally, Raymond James Financial reduced their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. One 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.