Russell Investments Group Ltd. Boosts Holdings in Tidewater Inc. $TDW

Russell Investments Group Ltd. grew its position in Tidewater Inc. (NYSE:TDW) by 48.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,130 shares of the oil and gas company’s stock after buying an additional 26,928 shares during the period. Russell Investments Group Ltd. owned 0.17% of Tidewater worth $3,472,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TDW. Price T Rowe Associates Inc. MD boosted its position in shares of Tidewater by 20.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock worth $126,180,000 after purchasing an additional 390,814 shares during the period. Encompass Capital Advisors LLC boosted its position in shares of Tidewater by 17.7% during the 4th quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock worth $86,569,000 after purchasing an additional 238,170 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 22.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company’s stock worth $84,888,000 after purchasing an additional 286,097 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Tidewater by 13.2% during the 4th quarter. Ameriprise Financial Inc. now owns 867,875 shares of the oil and gas company’s stock worth $47,473,000 after purchasing an additional 101,159 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Tidewater by 51.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 624,236 shares of the oil and gas company’s stock worth $34,152,000 after purchasing an additional 212,189 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insiders Place Their Bets

In other news, Director Robert Robotti acquired 15,000 shares of Tidewater stock in a transaction dated Wednesday, June 4th. The shares were acquired at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the acquisition, the director owned 2,234,957 shares of the company’s stock, valued at $93,979,941.85. This trade represents a 0.68% increase in their ownership of the stock. 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 on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total transaction of $575,600.00. Following the completion of the sale, the executive vice president owned 75,986 shares in the company, valued at $4,373,754.16. The trade was a 11.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 25,560 shares of company stock worth $1,074,858 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Tidewater Stock Performance

Shares of TDW stock opened at $60.80 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.40. The stock has a market capitalization of $3.01 billion, a PE ratio of 15.75 and a beta of 1.08. The firm has a 50 day moving average of $51.27 and a two-hundred day moving average of $45.30.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company had revenue of $341.43 million during the quarter, compared to analysts’ expectations of $317.28 million. During the same quarter last year, the company posted $0.94 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. On average, research analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a share 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 repurchase up to 21.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 13th. Evercore ISI increased 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. Raymond James Financial lowered their price objective on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, BTIG Research cut shares of Tidewater from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. One equities 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, Tidewater currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.