Villere ST Denis J & Co. LLC Reduces Stake in Tidewater Inc. $TDW

Villere ST Denis J & Co. LLC reduced its stake in Tidewater Inc. (NYSE:TDW) by 4.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 460,902 shares of the oil and gas company’s stock after selling 19,811 shares during the period. Tidewater accounts for approximately 2.0% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 28th largest position. Villere ST Denis J & Co. LLC’s holdings in Tidewater were worth $21,261,000 as of its most recent filing with the Securities & Exchange Commission.

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

Tidewater Price Performance

TDW stock opened at $47.99 on Friday. 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 firm has a market capitalization of $2.38 billion, a P/E ratio of 12.43 and a beta of 1.05. The business’s 50-day moving average is $56.79 and its two-hundred day moving average is $47.68. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $68.90.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (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 analyst estimates of $317.28 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.Tidewater’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. Analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a stock repurchase 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 reacquire up to 21.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Tidewater

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the stock in a transaction dated 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 owned 75,986 shares of the company’s stock, valued at $4,373,754.16. This trade represents a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TDW has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research note on Wednesday. Fearnley Fonds raised 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 company an “in-line” rating in a research note on Wednesday, August 6th. BTIG Research lowered Tidewater from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Finally, Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.00.

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.