Van Lanschot Kempen Investment Management N.V. Makes New Investment in Tidewater Inc. $TDW

Key Points

• Van Lanschot Kempen Investment Management acquired 8,468 shares of Tidewater Inc., valued at approximately $358,000, marking a new investment in the firm.
• Tidewater Inc. reported an impressive quarterly EPS of $1.23, significantly beating analysts' expectations of $0.28, with a revenue of $341.43 million against a projected $317.28 million.
• The company initiated a $500 million share buyback plan, allowing for the repurchase of up to 21.3% of its stock, indicating management's belief in the undervaluation of shares.

Van Lanschot Kempen Investment Management N.V. acquired a new position in Tidewater Inc. (NYSE:TDW - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,468 shares of the oil and gas company's stock, valued at approximately $358,000.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Tidewater during the 4th quarter valued at about $4,347,000. GAMMA Investing LLC grew its stake in shares of Tidewater by 477.5% during the 1st quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 2,206 shares during the period. Principal Financial Group Inc. grew its stake in shares of Tidewater by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 283,950 shares of the oil and gas company's stock valued at $12,003,000 after purchasing an additional 7,837 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Tidewater by 94,555.6% during the 1st quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company's stock valued at $366,000 after purchasing an additional 8,510 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock valued at $168,000 after purchasing an additional 498 shares during the period. 95.13% of the stock is currently owned by institutional investors.

Tidewater Stock Performance

Shares of TDW stock traded down $0.9870 during trading hours on Monday, reaching $59.8430. 573,239 shares of the company traded hands, compared to its average volume of 1,067,149. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $91.40. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04. The company has a market cap of $2.96 billion, a P/E ratio of 15.39 and a beta of 1.08. The firm has a 50-day moving average price of $51.27 and a 200 day moving average price of $45.24.

Tidewater (NYSE:TDW - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $317.28 million. During the same period in the previous year, the firm earned $0.94 EPS. The business's quarterly 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 predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater declared that its board has approved a share buyback program on Monday, August 4th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were bought at an average cost of $42.05 per share, with a total value of $630,750.00. Following the acquisition, the director owned 2,234,957 shares in the company, valued at approximately $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel A. Hudson sold 10,000 shares of the business's 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 25,560 shares of company stock worth $1,074,858. 6.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Raymond James Financial cut their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Evercore ISI boosted their price target on Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Finally, Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.