Nuveen LLC Makes New $5.64 Million Investment in Tidewater Inc. $TDW

Nuveen LLC acquired a new position in shares of Tidewater Inc. (NYSE:TDW) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 133,478 shares of the oil and gas company’s stock, valued at approximately $5,642,000. Nuveen LLC owned approximately 0.27% of Tidewater as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in Tidewater by 14.1% during the 1st quarter. Covestor Ltd now owns 2,075 shares of the oil and gas company’s stock worth $88,000 after buying an additional 256 shares in the last quarter. Signaturefd LLC lifted its holdings in Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company’s stock worth $48,000 after buying an additional 282 shares in the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Tidewater by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company’s stock worth $1,160,000 after buying an additional 405 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Tidewater by 13.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company’s stock worth $227,000 after buying an additional 479 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company’s stock worth $168,000 after buying an additional 498 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Shares of Tidewater stock opened at $59.76 on Tuesday. The firm has a fifty day moving average of $51.52 and a two-hundred day moving average of $45.28. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 15.48 and a beta of 1.08. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $91.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, beating 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 analysts’ expectations of $317.28 million. During the same quarter in the prior year, the company earned $0.94 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater announced that its board has approved a share buyback plan 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 buy up to 21.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Daniel A. Hudson sold 10,000 shares of the company’s stock in a transaction on 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 owned 75,986 shares in the company, valued at $4,373,754.16. This represents a 11.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Robotti acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average price of $42.05 per share, with a total value of $630,750.00. Following the transaction, the director owned 2,234,957 shares in the company, 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. In the last 90 days, insiders purchased 25,560 shares of company stock valued at $1,074,858. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Tidewater Company 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.