Marnell Management LLC Purchases Shares of 89,546 Tidewater Inc. $TDW

Marnell Management LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 89,546 shares of the oil and gas company’s stock, valued at approximately $4,523,000. Tidewater makes up approximately 2.2% of Marnell Management LLC’s holdings, making the stock its 11th biggest holding.

Several other institutional investors have also bought and sold shares of TDW. Hantz Financial Services Inc. grew its holdings in Tidewater by 401.0% during the third 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. Clearstead Advisors LLC grew its holdings in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after buying an additional 870 shares in the last quarter. Headlands Technologies LLC bought a new position in Tidewater in the 2nd quarter valued at $47,000. Finally, Arax Advisory Partners bought a new position in Tidewater in the 4th quarter valued at $55,000. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 0.0%

Shares of NYSE:TDW opened at $76.94 on Monday. The company has a market capitalization of $3.83 billion, a PE ratio of 12.89 and a beta of 0.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22. The business has a fifty day moving average price of $81.66 and a two-hundred day moving average price of $70.69. Tidewater Inc. has a 1 year low of $44.11 and a 1 year high of $93.13.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.63). The firm had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TDW. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday. Raymond James Financial set a $117.00 price objective on Tidewater in a research note on Tuesday, March 3rd. Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Barclays upped their price objective on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Tidewater Company 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.