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 raised its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 63.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,200 shares of the oil and gas company's stock after acquiring an additional 20,700 shares during the quarter. Value Holdings Management CO. LLC owned approximately 0.11% of Tidewater worth $2,249,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TDW. Bogart Wealth LLC bought a new position in shares of Tidewater in the first quarter worth about $30,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 worth $42,000 after acquiring an additional 954 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company's stock worth $48,000 after acquiring an additional 282 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Tidewater by 14.1% in the first quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company's stock worth $88,000 after acquiring an additional 256 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Tidewater by 477.5% during the first quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock worth $113,000 after purchasing an additional 2,206 shares during the last quarter. Institutional investors own 95.13% of the company's stock.

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 completion of the sale, the executive vice president directly owned 75,986 shares of the company's stock, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Robotti acquired 15,000 shares of Tidewater stock in a transaction on Wednesday, June 4th. The stock was purchased at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the transaction, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. This represents a 0.68% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 25,560 shares of company stock valued at $1,074,858 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Tidewater Stock Up 5.1%

NYSE TDW traded up $2.94 during trading hours on Friday, hitting $60.89. The company's stock had a trading volume of 608,279 shares, compared to its average volume of 1,066,329. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.40. The company has a market capitalization of $3.01 billion, a PE ratio of 15.78 and a beta of 1.08. 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 simple moving average is $51.02 and its two-hundred day simple moving average is $45.33.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $317.28 million. During the same period in the prior year, the firm posted $0.94 EPS. The firm's quarterly revenue was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. Research analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on TDW shares. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 13th. Raymond James Financial reduced their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Evercore ISI raised their price objective on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 6th. Finally, BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Tidewater presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

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.