Kendall Capital Management Acquires Shares of 16,080 Tidewater Inc. $TDW

Key Points

• Kendall Capital Management acquired 16,080 Tidewater shares worth approximately $1.07 million during the second quarter. Institutional investors collectively own 95.13% of the company.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $91.00. Tidewater recently reported $0.43 in quarterly EPS, below the $0.46 consensus, while revenue exceeded estimates at $342.29 million.
• Tidewater shares opened at $96.17, near their 12-month high of $97.50. Separately, executive vice president Samuel R. Rubio sold 17,705 shares for approximately $1.62 million.

Kendall Capital Management purchased a new stake in Tidewater Inc. (NYSE:TDW - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund purchased 16,080 shares of the oil and gas company's stock, valued at approximately $1,071,000.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TDW shares. Pickering Energy Partners raised shares of Tidewater from an "underperform" rating to a "neutral" rating in a research note on Thursday, June 11th. Fearnley Fonds raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 5th. Barclays boosted their target price 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. Weiss Ratings cut shares of Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Finally, Zacks Research downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $91.00.

Tidewater Price Performance

Tidewater stock opened at $96.17 on Friday. Tidewater Inc. has a 12-month low of $46.65 and a 12-month high of $97.50. 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 firm has a 50-day moving average price of $76.58 and a 200-day moving average price of $77.96. The firm has a market capitalization of $4.79 billion, a PE ratio of 19.47 and a beta of 0.53.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly 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 firm had revenue of $342.29 million for 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 for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.46 earnings per share. As a group, equities research analysts forecast that Tidewater Inc. will post 3.08 EPS for the current year.

Insider Activity at Tidewater

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 transaction 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company's stock.

Tidewater 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.

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