Northwestern Mutual Wealth Management Co. Purchases 650 Shares of Tidewater Inc. $TDW

Northwestern Mutual Wealth Management Co. lifted its position in Tidewater Inc. (NYSE:TDW) by 2,321.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 678 shares of the oil and gas company’s stock after purchasing an additional 650 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Tidewater were worth $29,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TDW. Bogart Wealth LLC acquired a new position in Tidewater during the 1st quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater during the 1st quarter worth about $40,000. Caitong International Asset Management Co. Ltd lifted its position in Tidewater by 2,510.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock worth $42,000 after buying an additional 954 shares in the last quarter. Signaturefd LLC lifted 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 worth $48,000 after buying an additional 282 shares in the last quarter. Finally, Covestor Ltd lifted its position 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. Institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Zacks Research upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 13th. BTIG Research downgraded Tidewater from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Finally, Evercore ISI upped their target price on shares of Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Tidewater Stock Performance

Tidewater stock opened at $57.73 on Monday. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $79.43. The company has a market cap of $2.86 billion, a PE ratio of 14.95 and a beta of 1.09. The company’s 50-day moving average is $53.82 and its two-hundred day moving average is $45.59.

Tidewater (NYSE:TDW) last announced its quarterly earnings results 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. The business had revenue of $341.43 million for the quarter, compared to the consensus estimate of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. Tidewater’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the company posted $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. Equities analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

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

Insider Buying and Selling at Tidewater

In related news, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 6.60% of the stock is owned by corporate insiders.

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.