JB Capital Partners LP Invests $1.67 Million in Tidewater Inc. $TDW

JB Capital Partners LP purchased a new stake in shares of Tidewater Inc. (NYSE:TDW) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $1,665,750. JB Capital Partners LP owned about 0.05% of Tidewater at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. bought a new position in shares of Tidewater in the 1st quarter worth approximately $26,000. Clearstead Advisors LLC boosted its stake in Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the period. Headlands Technologies LLC bought a new position in shares of Tidewater during the second quarter worth about $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Tidewater in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Insider Activity

In other news, EVP Samuel R. Rubio sold 17,705 shares of the business’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value 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. The trade was a 34.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TDW shares. 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 note on Thursday, August 13th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Finally, Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. One 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. According to data from MarketBeat.com, Tidewater currently has an average rating of “Hold” and a consensus price target of $91.00.

Tidewater Stock Performance

Shares of TDW stock traded down $0.38 on Friday, hitting $92.66. The company’s stock had a trading volume of 162,634 shares, compared to its average volume of 773,104. Tidewater Inc. has a fifty-two week low of $46.65 and a fifty-two week high of $97.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The company has a market capitalization of $4.61 billion, a PE ratio of 18.76 and a beta of 0.53. The stock’s 50 day moving average is $78.38 and its 200-day moving average is $78.79.

Tidewater (NYSE:TDW) last released its quarterly earnings results 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 firm had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.46 EPS. Equities research analysts expect that Tidewater Inc. will post 3.08 earnings per share 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.