Tidewater (NYSE:TDW - Get Free Report) released its quarterly earnings results on Monday. The oil and gas company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.28 by $0.95, Zacks reports. The business had revenue of $341.43 million during the quarter, compared to analyst estimates of $317.28 million. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Tidewater updated its FY 2025 guidance to EPS.
Tidewater Stock Up 2.7%
Tidewater stock opened at $48.84 on Tuesday. The company's 50-day moving average is $47.37 and its 200-day moving average is $44.95. Tidewater has a fifty-two week low of $31.17 and a fifty-two week high of $91.40. The firm has a market capitalization of $2.42 billion, a PE ratio of 14.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.07 and a quick ratio of 2.00.
Insider Buying and Selling at Tidewater
In related news, EVP Daniel A. Hudson sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total value of $250,100.00. Following the transaction, the executive vice president owned 85,986 shares in the company, valued at approximately $4,301,019.72. This trade represents a 5.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Robotti acquired 15,000 shares of Tidewater stock in a transaction that occurred on Wednesday, June 4th. The stock was acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the purchase, the director directly owned 2,234,957 shares of the company's stock, valued at $93,979,941.85. This represents a 0.68% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 25,560 shares of company stock valued at $1,074,858 in the last ninety days. Insiders own 8.33% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its stake in shares of Tidewater by 22.6% during the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company's stock valued at $980,000 after purchasing an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company's stock valued at $1,227,000 after purchasing an additional 1,271 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Tidewater by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company's stock valued at $1,895,000 after purchasing an additional 1,931 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on TDW. Raymond James Financial cut their price target on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $69.33.
Read Our Latest Research Report on Tidewater
Tidewater announced that its board has approved a stock buyback plan on Monday, August 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 21.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.
About Tidewater
(
Get Free Report)
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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