Kendall Capital Management Invests $1.07 Million in Tidewater Inc. $TDW

Kendall Capital Management acquired a new stake in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, Holdings Channel reports. The firm acquired 16,080 shares of the oil and gas company’s stock, valued at approximately $1,071,000.

Other large investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Tidewater in the fourth quarter valued at approximately $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Tidewater during the 4th quarter worth $1,953,000. Tejara Capital Ltd increased its holdings in Tidewater by 127.6% during the 4th quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company’s stock worth $2,253,000 after purchasing an additional 25,000 shares during the period. Bank of New York Mellon Corp raised its position in Tidewater by 6.7% during the 1st quarter. Bank of New York Mellon Corp now owns 323,869 shares of the oil and gas company’s stock valued at $27,059,000 after purchasing an additional 20,472 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in Tidewater during the 4th quarter valued at $346,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Down 0.3%

Shares of NYSE:TDW opened at $96.17 on Friday. Tidewater Inc. has a 12-month low of $46.65 and a 12-month high of $97.50. The business’s fifty day simple moving average is $76.58 and its 200-day simple moving average is $77.96. The company has a market capitalization of $4.79 billion, a PE ratio of 19.47 and a beta of 0.53. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The company had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $1.46 earnings per share. As a group, equities research analysts predict that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of recent research reports. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Finally, Barclays raised their target price on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $91.00.

Insider Transactions at Tidewater

In other Tidewater news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the transaction, the executive vice president directly owned 33,214 shares in the company, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by company insiders.

Tidewater Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.