Kendall Capital Management Makes New $507,000 Investment in Tidewater Inc. $TDW

Kendall Capital Management purchased a new position in shares of Tidewater Inc. (NYSE:TDW) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,030 shares of the oil and gas company’s stock, valued at approximately $507,000.

Several other institutional investors have also modified their holdings of the business. Hantz Financial Services Inc. lifted its position in Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after buying an additional 413 shares in the last quarter. Blume Capital Management Inc. grew its holdings in shares of Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 295 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 870 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater in the second quarter valued at about $47,000. Finally, Wexford Capital LP bought a new stake in Tidewater during the third quarter worth about $56,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Barclays initiated coverage on Tidewater in a report on Wednesday. They issued an “equal weight” rating and a $80.00 price objective for the company. Dawson James restated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Raymond James Financial set a $117.00 price target on shares of Tidewater in a research report on Tuesday, March 3rd. Two research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and an average target price of $87.33.

Tidewater Stock Down 0.0%

TDW stock opened at $84.38 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.78 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.18 billion, a PE ratio of 12.63 and a beta of 0.56. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $88.99. The business’s 50 day simple moving average is $74.32 and its 200 day simple moving average is $60.92.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The business had revenue of $336.80 million during the quarter, compared to the consensus estimate of $329.39 million. During the same quarter last year, the firm posted $0.70 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that Tidewater Inc. will post 3.25 EPS for the current year.

Insider Activity

In other news, EVP Samuel R. Rubio sold 22,461 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares in the company, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Daniel A. Hudson sold 15,000 shares of Tidewater stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.50, for a total transaction of $1,162,500.00. Following the sale, the executive vice president directly owned 50,986 shares of the company’s stock, valued at $3,951,415. The trade was a 22.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 52,656 shares of company stock worth $4,079,112 over the last three months. Insiders own 6.60% of the company’s stock.

About Tidewater

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.