FNY Investment Advisers LLC Sells 7,641 Shares of Tidewater Inc. $TDW

FNY Investment Advisers LLC lessened its stake in shares of Tidewater Inc. (NYSE:TDW) by 88.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 957 shares of the oil and gas company’s stock after selling 7,641 shares during the period. FNY Investment Advisers LLC’s holdings in Tidewater were worth $44,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in Tidewater during the 1st quarter worth $5,642,000. GAMMA Investing LLC increased its stake in shares of Tidewater by 477.5% in 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. Principal Financial Group Inc. increased its stake in shares of Tidewater by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 283,950 shares of the oil and gas company’s stock valued at $12,003,000 after purchasing an additional 7,837 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Tidewater in the 2nd quarter valued at $848,000. Finally, Spire Wealth Management increased its stake in shares of Tidewater by 14.3% in 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. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday. Evercore ISI lifted 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Wednesday, October 8th. Finally, Fearnley Fonds upgraded Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $69.00.

Insider Buying and Selling at Tidewater

In related 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 transaction 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 legal filing with the SEC, which is available through this hyperlink. 6.60% of the stock is currently owned by company insiders.

Tidewater Trading Up 7.2%

NYSE TDW opened at $51.58 on Friday. 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 Inc. has a twelve month low of $31.17 and a twelve month high of $65.76. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 13.36 and a beta of 1.05. The business’s fifty day moving average is $55.41 and its 200 day moving average is $48.18.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company had revenue of $341.43 million for the quarter, compared to the consensus estimate of $317.28 million. During the same quarter last year, the business posted $0.94 EPS. Tidewater’s revenue for the quarter was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has approved a stock buyback program on Monday, August 4th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.