Tejara Capital Ltd Takes Position in Tidewater Inc. $TDW

Tejara Capital Ltd bought a new position in shares of Tidewater Inc. (NYSE:TDW) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,000 shares of the oil and gas company’s stock, valued at approximately $999,000.

Several other large investors have also made changes to their positions in the company. Robotti Robert bought a new position in Tidewater in the second quarter valued at about $193,652,000. BlackRock Inc. bought a new position in shares of Tidewater in the 2nd quarter valued at about $503,200,000. Deutsche Bank AG bought a new position in shares of Tidewater in the 2nd quarter valued at about $3,262,000. TimesSquare Capital Management LLC acquired a new stake in shares of Tidewater during the 2nd quarter worth approximately $15,465,000. Finally, Old West Investment Management LLC bought a new stake in shares of Tidewater during the second quarter worth approximately $26,238,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Insider Activity

In related news, EVP Samuel R. Rubio sold 17,705 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the completion of the sale, the executive vice president directly owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Tidewater Stock Performance

Shares of Tidewater stock opened at $95.65 on Friday. The stock’s fifty day simple moving average is $76.20 and its 200 day simple moving average is $77.83. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $4.76 billion, a PE ratio of 19.36 and a beta of 0.53. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $96.63.

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

Wall Street Analyst Weigh In

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

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.