JB Capital Partners LP Takes Position in Tidewater Inc. $TDW

JB Capital Partners LP purchased a new stake in Tidewater Inc. (NYSE:TDW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $1,665,750,000.

A number of other large investors have also added to or reduced their stakes in TDW. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Tidewater in the 4th quarter valued at $1,036,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Tidewater during the 4th quarter worth $1,953,000. Tejara Capital Ltd increased its position in shares of Tidewater by 127.6% in the fourth 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 stake in Tidewater by 6.7% in the first 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 acquired a new position in Tidewater in the fourth quarter valued at about $346,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDW. Fearnley Fonds upgraded 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 research report on Tuesday, July 28th. Barclays upped their price target on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a report on Thursday, August 13th. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $91.00.

Insider Activity

In related news, EVP Samuel R. Rubio sold 17,705 shares of Tidewater stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president directly owned 33,214 shares of the company’s stock, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.90% of the company’s stock.

Tidewater Price Performance

Shares of TDW stock opened at $96.17 on Friday. The business has a fifty day simple moving average of $76.58 and a 200 day simple moving average of $77.96. The company has a market cap of $4.79 billion, a P/E ratio of 19.47 and a beta of 0.53. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a twelve month low of $46.65 and a twelve month high of $97.50.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 18.34% and a return on equity of 5.36%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 EPS. On average, sell-side analysts forecast that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

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.