Value Holdings Management CO. LLC Buys 20,700 Shares of Tidewater Inc. $TDW

Key Points

• Value Holdings Management CO. LLC increased its stake in Tidewater Inc. by 63.7%, acquiring an additional 20,700 shares during the first quarter, bringing its total to 53,200 shares valued at approximately $2.25 million.
• Tidewater reported earnings per share of $1.23 for the last quarter, significantly exceeding analysts' expectations of $0.28, indicating strong financial performance.
• The company's board approved a $500 million stock repurchase plan, signaling confidence that the company’s shares are currently undervalued.

Value Holdings Management CO. LLC increased its position in Tidewater Inc. (NYSE:TDW - Free Report) by 63.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,200 shares of the oil and gas company's stock after buying an additional 20,700 shares during the quarter. Value Holdings Management CO. LLC owned about 0.11% of Tidewater worth $2,249,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Robotti Robert lifted its holdings in shares of Tidewater by 8.5% in the first quarter. Robotti Robert now owns 2,856,631 shares of the oil and gas company's stock valued at $120,750,000 after buying an additional 223,651 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of 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 buying an additional 390,814 shares during the period. Encompass Capital Advisors LLC lifted its holdings in shares of Tidewater by 17.7% in the fourth 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 buying an additional 238,170 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Tidewater by 22.6% during 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 purchasing an additional 286,097 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Tidewater by 13.2% during the fourth quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company's stock valued at $47,473,000 after purchasing an additional 101,159 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Analyst Ratings Changes

TDW has been the topic of a number of analyst reports. BTIG Research cut Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Raymond James Financial dropped their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI boosted their price target on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a report on Wednesday, August 6th. Finally, Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Insider Activity

In other Tidewater news, Director Robert Robotti bought 15,000 shares of the 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 purchase, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. The trade was a 0.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total value of $575,600.00. Following the sale, the executive vice president directly owned 75,986 shares of the company's stock, valued at $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 25,560 shares of company stock worth $1,074,858. Company insiders own 6.60% of the company's stock.

Tidewater Stock Down 1.2%

NYSE:TDW traded down $0.6540 on Wednesday, hitting $55.9260. 578,473 shares of the company's stock traded hands, compared to its average volume of 1,072,859. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $91.40. The firm has a 50-day moving average price of $50.67 and a 200-day moving average price of $45.21. The company has a market cap of $2.77 billion, a PE ratio of 14.49 and a beta of 1.08.

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 for the quarter, beating 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 analysts' expectations of $317.28 million. During the same quarter in the previous year, the business posted $0.94 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a share repurchase program 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 buy up to 21.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

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.