Swiss National Bank Sells 400 Shares of Tidewater Inc. $TDW

Swiss National Bank reduced its position in Tidewater Inc. (NYSE:TDW) by 1.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,300 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Swiss National Bank’s holdings in Tidewater were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC bought a new stake in shares of Tidewater in the 1st quarter valued at about $30,000. Signaturefd LLC increased its position in Tidewater by 33.3% during the 1st quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 282 shares in the last quarter. GAMMA Investing LLC boosted its stake in 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 last quarter. Spire Wealth Management boosted its stake 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 valued at $168,000 after purchasing an additional 498 shares during the last quarter. Finally, Allegheny Financial Group purchased a new stake in Tidewater during the 4th quarter valued at $211,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Tidewater Trading Down 1.8%

TDW stock opened at $59.76 on Tuesday. The firm has a market cap of $2.96 billion, a P/E 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’s 50-day simple moving average is $51.52 and its 200-day simple moving average is $45.28. 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 (NYSE:TDW) last announced its quarterly earnings results 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 quarter last year, the firm earned $0.94 EPS. The business’s revenue was up .6% compared to the same quarter last year. Tidewater has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater announced that its board has authorized a share buyback plan on Monday, August 4th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Robert Robotti bought 15,000 shares of the stock in a transaction on Wednesday, June 4th. The shares were bought at an average cost of $42.05 per share, for a total transaction of $630,750.00. Following the completion of the transaction, the director owned 2,234,957 shares of the company’s stock, valued at $93,979,941.85. This represents a 0.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $575,600.00. Following the completion of the sale, the executive vice president directly owned 75,986 shares in the company, valued at $4,373,754.16. This trade represents a 11.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders purchased 25,560 shares of company stock valued at $1,074,858. 6.60% of the stock is owned by corporate insiders.

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.