Tweedy Browne Co LLC Invests $319,000 in Tidewater Inc. $TDW

Key Points

• Tweedy Browne Co LLC has invested approximately $319,000 in 6,907 shares of Tidewater Inc. (NYSE:TDW), marking a new position for the institutional investor.
• Institutional ownership for Tidewater is significant, with 95.13% of shares owned by institutional investors and hedge funds, indicating strong market confidence.
• Several analysts have revised their ratings for Tidewater, with Zacks lowering it to a "hold" and Evercore ISI boosting their price target to $67.00, suggesting mixed sentiments about the stock's future performance.

Tweedy Browne Co LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 6,907 shares of the oil and gas company's stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 650 shares during the period. Bogart Wealth LLC acquired a new position in shares of Tidewater during the 1st quarter worth $30,000. CWM LLC grew its stake in shares of Tidewater by 83.6% during the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 422 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Tidewater in the 1st quarter worth about $40,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Tidewater by 2,510.5% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company's stock worth $42,000 after buying an additional 954 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TDW. Zacks Research lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. BTIG Research lowered shares of Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tidewater in a research report on Wednesday, October 8th. 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 report on Wednesday, August 6th. Finally, Fearnley Fonds upgraded shares of Tidewater to a "hold" rating in a research report on Tuesday, September 16th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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 dated Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the transaction, the executive vice president directly owned 75,986 shares in the company, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.60% of the company's stock.

Tidewater Price Performance

NYSE:TDW opened at $49.01 on Friday. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 12.70 and a beta of 1.05. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The company's 50-day moving average is $56.15 and its two-hundred day moving average is $47.85. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $65.76.

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

Tidewater declared that its Board of Directors has authorized 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 repurchase up to 21.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.

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.

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