Tidewater Inc. $TDW Shares Sold by Villere ST Denis J & Co. LLC

Key Points

• Villere ST Denis J & Co. LLC reduced its stake in Tidewater Inc. by 4.1%, holding approximately 460,902 shares valued at $21.26 million, making it the firm's 28th largest position.
• Tidewater's stock price has decreased by 6.0%, currently trading at $47.99, with a market capitalization of $2.38 billion and a debt-to-equity ratio of 0.47.
• The company reported earnings per share of $1.23 for the last quarter, surpassing expectations, and announced a $500 million stock buyback plan, indicating management believes its shares are undervalued.

Villere ST Denis J & Co. LLC cut its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 460,902 shares of the oil and gas company's stock after selling 19,811 shares during the quarter. Tidewater makes up approximately 2.0% of Villere ST Denis J & Co. LLC's investment portfolio, making the stock its 28th largest position. Villere ST Denis J & Co. LLC owned approximately 0.93% of Tidewater worth $21,261,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TDW. Northwestern Mutual Wealth Management Co. lifted its holdings in Tidewater by 2,321.4% in 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 acquiring an additional 650 shares during the period. Bogart Wealth LLC acquired a new position in Tidewater in the first quarter valued at approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater in the first quarter valued at approximately $40,000. Caitong International Asset Management Co. Ltd lifted its holdings in Tidewater by 2,510.5% in 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 acquiring an additional 954 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock worth $48,000 after buying an additional 282 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Tidewater Stock Down 6.0%

Shares of TDW opened at $47.99 on Friday. 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 one year low of $31.17 and a one year high of $68.90. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.43 and a beta of 1.05. The stock has a 50 day moving average price of $56.79 and a 200 day moving average price of $47.68.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 EPS 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 firm had revenue of $341.43 million during the quarter, compared to analysts' expectations of $317.28 million. During the same period in the previous year, the business earned $0.94 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has initiated a stock buyback plan on Monday, August 4th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 21.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

TDW has been the subject of several research analyst reports. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tidewater in a research note on Wednesday. Evercore ISI upped 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. Fearnley Fonds raised Tidewater to a "hold" rating in a research note on Tuesday, September 16th. Finally, Zacks Research downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $69.00.

Insider Transactions at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the company's stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total value of $575,600.00. Following the completion of the sale, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. This represents a 11.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.60% of the stock is currently owned by insiders.

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.

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