Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group Sells 30,273 Shares of Tidewater Inc. $TDW

Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group reduced its position in shares of Tidewater Inc. (NYSE:TDW) by 75.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 9,727 shares of the oil and gas company’s stock after selling 30,273 shares during the quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group’s holdings in Tidewater were worth $449,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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. Oppenheimer & Co. Inc. bought a new position in Tidewater in the first quarter valued at approximately $569,000. Spire Wealth Management grew its holdings in Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company’s stock worth $168,000 after acquiring an additional 498 shares during the period. Illinois Municipal Retirement Fund raised its position in shares of Tidewater by 1.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company’s stock valued at $1,160,000 after acquiring an additional 405 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Tidewater by 2.8% during 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 acquiring an additional 7,837 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TDW has been the topic of several recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research report on Friday. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Evercore ISI boosted their target price on Tidewater from $60.00 to $67.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. Fearnley Fonds raised Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Finally, BTIG Research lowered shares of Tidewater from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $69.00.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater 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 transaction, the executive vice president owned 75,986 shares of the company’s stock, valued at approximately $4,373,754.16. The trade was a 11.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.60% of the company’s stock.

Tidewater Stock Down 4.1%

Shares of Tidewater stock opened at $49.33 on Monday. The company has a market capitalization of $2.44 billion, a P/E ratio of 12.78 and a beta of 1.05. 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 business has a 50-day moving average of $55.28 and a two-hundred day moving average of $48.49. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $65.76.

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 business had revenue of $341.43 million for the quarter, compared to analysts’ expectations of $317.28 million. During the same quarter in the previous 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, equities analysts predict that Tidewater Inc. will post 3.25 EPS for the current year.

Tidewater announced that its Board of Directors has approved a share repurchase 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 purchase up to 21.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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.