JB Capital Partners LP Purchases New Holdings in Tidewater Inc. $TDW

Key Points

• JB Capital Partners LP acquired 25,000 Tidewater shares in the second quarter, with the stake reported as valued at approximately $1.67 billion and representing about 0.05% of the company. Institutional investors collectively own 95.13% of Tidewater.
• Tidewater’s shares opened at $96.17, near their 52-week high of $97.50 and above their 50-day and 200-day moving averages. The company reported quarterly revenue of $342.29 million, exceeding estimates, but earnings per share of $0.43 fell short of the $0.46 consensus.
• Analyst sentiment remains mixed, with a consensus rating of Hold and a $91 price target. Meanwhile, Executive Vice President Samuel R. Rubio sold 17,705 shares at an average price of $91.56.

JB Capital Partners LP purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the oil and gas company's stock, valued at approximately $1,665,750,000. JB Capital Partners LP owned approximately 0.05% of Tidewater as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TDW. BlackRock Inc. acquired a new stake in shares of Tidewater in the 2nd quarter valued at approximately $503,200,000. Robotti Robert acquired a new position in Tidewater during the second quarter worth $193,652,000. Cerity Partners LLC raised its position in Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock worth $57,730,000 after acquiring an additional 583,607 shares in the last quarter. Old West Investment Management LLC acquired a new stake in Tidewater in the second quarter valued at $26,238,000. Finally, Bank of New York Mellon Corp acquired a new stake in Tidewater in the second quarter valued at $24,842,000. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Price Performance

NYSE:TDW opened at $96.17 on Friday. The firm's fifty day moving average price is $76.58 and its two-hundred day moving average price is $77.96. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The company has a market cap of $4.79 billion, a P/E ratio of 19.47 and a beta of 0.53. Tidewater Inc. has a one year low of $46.65 and a one year high of $97.50.

Tidewater (NYSE:TDW - Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.03). The company had revenue of $342.29 million for 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 business's quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 EPS. Equities analysts expect that Tidewater Inc. will post 3.08 earnings per share for the current year.

Insider Activity

In other news, EVP Samuel R. Rubio sold 17,705 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president owned 33,214 shares of the company's stock, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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