State of Alaska Department of Revenue Raises Stock Position in Tidewater Inc. $TDW

State of Alaska Department of Revenue raised its holdings in shares of Tidewater Inc. (NYSE:TDW) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,092 shares of the oil and gas company’s stock after buying an additional 426 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Tidewater worth $1,249,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TDW. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Tidewater by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company’s stock worth $2,347,000 after buying an additional 3,325 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Tidewater by 24,310.4% during the first quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company’s stock worth $4,767,000 after buying an additional 112,314 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Tidewater by 0.7% during the first quarter. Rhumbline Advisers now owns 131,534 shares of the oil and gas company’s stock worth $5,560,000 after buying an additional 943 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Tidewater by 94,555.6% during the first quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company’s stock worth $366,000 after buying an additional 8,510 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Tidewater by 16.5% during the first quarter. Harbor Capital Advisors Inc. now owns 179,510 shares of the oil and gas company’s stock worth $7,588,000 after buying an additional 25,398 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BTIG Research lowered shares of Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Zacks Research raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Evercore ISI boosted their price target 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. Fearnley Fonds raised shares of Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Tidewater has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity

In other news, EVP Daniel A. Hudson sold 10,000 shares of the 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 sale, the executive vice president owned 75,986 shares of the company’s stock, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.60% of the company’s stock.

Tidewater Trading Up 1.0%

NYSE TDW opened at $53.28 on Friday. The firm’s 50-day moving average is $56.68 and its two-hundred day moving average is $47.41. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $73.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.11 and a quick ratio of 2.04. The stock has a market capitalization of $2.64 billion, a P/E ratio of 13.80 and a beta of 1.05.

Tidewater (NYSE:TDW) last posted its earnings results 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. The company had revenue of $341.43 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its Board of Directors has initiated a stock buyback program on Monday, August 4th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas company to buy up to 21.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.