Public Employees Retirement System of Ohio Lowers Holdings in Tidewater Inc. $TDW

Public Employees Retirement System of Ohio trimmed its holdings in Tidewater Inc. (NYSE:TDW) by 43.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,385 shares of the oil and gas company’s stock after selling 1,833 shares during the period. Public Employees Retirement System of Ohio’s holdings in Tidewater were worth $110,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Tidewater by 2,321.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 650 shares during the period. Bogart Wealth LLC purchased a new position in Tidewater in the first quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Tidewater in the first quarter worth approximately $40,000. Caitong International Asset Management Co. Ltd grew its position in Tidewater by 2,510.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 954 shares during the period. Finally, Signaturefd LLC grew its position in Tidewater by 33.3% in the first quarter. Signaturefd LLC now owns 1,128 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 282 shares during the period. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 5th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.60% of the stock is currently owned by corporate insiders.

Tidewater Stock Up 0.6%

Shares of NYSE TDW opened at $54.02 on Wednesday. The stock has a market cap of $2.67 billion, a P/E ratio of 13.99 and a beta of 1.05. 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 12-month low of $31.17 and a 12-month high of $70.01. The business’s fifty day simple moving average is $56.72 and its 200-day simple moving average is $47.56.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.95. The business had revenue of $341.43 million for the quarter, compared to analysts’ expectations of $317.28 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. As a group, equities analysts predict 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 allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 21.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Zacks Research upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 13th. BTIG Research cut Tidewater from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Evercore ISI upped their price target on Tidewater from $60.00 to $67.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Saturday, September 27th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and a consensus price target 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.