Tidewater Inc. $TDW Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its position in shares of Tidewater Inc. (NYSE:TDW) by 30.6% in the second quarter, HoldingsChannel reports. The firm owned 48,261 shares of the oil and gas company’s stock after selling 21,296 shares during the quarter. Allianz Asset Management GmbH’s holdings in Tidewater were worth $2,226,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Tidewater during the first quarter worth about $5,642,000. GAMMA Investing LLC raised its position in Tidewater by 477.5% during the first quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company’s stock valued at $113,000 after acquiring an additional 2,206 shares in the last quarter. Principal Financial Group Inc. raised its position in Tidewater by 2.8% during the first 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 in the last quarter. Dakota Wealth Management purchased a new position in Tidewater during the second quarter valued at approximately $848,000. Finally, Spire Wealth Management raised its position in Tidewater by 14.3% during the first quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 498 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TDW shares. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Dnb Nor Markets cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. 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 report on Wednesday, August 6th. BTIG Research cut Tidewater from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Finally, Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Tidewater presently has a consensus rating of “Hold” and an average target price of $69.00.

Tidewater Stock Performance

NYSE:TDW opened at $49.33 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The company has a fifty day moving average of $55.28 and a two-hundred day moving average of $48.30. The stock has a market capitalization of $2.44 billion, a PE ratio of 12.78 and a beta of 1.05. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $65.76.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.95. The company had revenue of $341.43 million during 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%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater declared that its board has authorized a share buyback program on Monday, August 4th that authorizes the company to buyback $500.00 million in 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 a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total transaction of $575,600.00. Following the completion of the transaction, the executive vice president directly owned 75,986 shares in the company, valued at approximately $4,373,754.16. This represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

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.