Trexquant Investment LP Purchases 100,541 Shares of Tidewater Inc. $TDW

Key Points

• Trexquant Investment LP increased its stake in Tidewater Inc. by **171.5%**, acquiring an additional **100,541 shares** in the first quarter, bringing its total holdings to approximately **159,167 shares** valued at **$6.73 million**.
• Several institutional investors significantly boosted their holdings in Tidewater, with Price T Rowe Associates increasing by **69.3%** and Raymond James Financial by **271.7%** during the same quarter, leading to over **95%** institutional ownership.
• Tidewater reported a **Q2 earnings** of **$1.23 per share**, greatly exceeding expectations of **$0.28**, alongside a revenue of **$341.43 million**, prompting analysts to anticipate a **target price of $69.00** and maintain a "Moderate Buy" consensus rating.

Trexquant Investment LP grew its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 171.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,167 shares of the oil and gas company's stock after purchasing an additional 100,541 shares during the quarter. Trexquant Investment LP owned approximately 0.32% of Tidewater worth $6,728,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TDW. Price T Rowe Associates Inc. MD increased its position in shares of Tidewater by 69.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock valued at $165,058,000 after purchasing an additional 1,598,513 shares during the last quarter. Encompass Capital Advisors LLC increased its position in shares of Tidewater by 17.7% during 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. Robotti Robert increased its position in shares of Tidewater by 8.5% during 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. Third Avenue Management LLC increased its position in shares of Tidewater by 37.6% during the 1st quarter. Third Avenue Management LLC now owns 809,258 shares of the oil and gas company's stock valued at $34,207,000 after purchasing an additional 221,079 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of Tidewater by 271.7% during the 1st quarter. Raymond James Financial Inc. now owns 295,337 shares of the oil and gas company's stock valued at $12,484,000 after purchasing an additional 215,891 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti acquired 15,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was acquired 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 $93,979,941.85. This represents a 0.68% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. Company insiders own 6.60% of the company's stock.

Tidewater Trading Up 0.3%

Shares of TDW stock opened at $60.27 on Friday. The stock has a market capitalization of $2.98 billion, a PE ratio of 15.61 and a beta of 1.08. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $90.49. The business has a 50-day moving average of $52.58 and a 200 day moving average of $45.50. 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 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. As a group, sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its board has authorized a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TDW shares. BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Evercore ISI increased their target price on Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Finally, Raymond James Financial dropped their target price on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Tidewater 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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