Tejara Capital Ltd Acquires 25,000 Shares of Tidewater Inc. $TDW

Key Points

• Tejara Capital Ltd increased its Tidewater stake by 127.6% in the fourth quarter, buying 25,000 additional shares and bringing its total holdings to 44,600 shares worth about $2.25 million.
• Analyst sentiment on Tidewater remains mixed: the stock has a consensus Hold rating with a $89.33 average price target, though some firms recently reiterated or upgraded their views.
• Tidewater reported Q1 EPS of $0.12, well below the $0.75 estimate, even as revenue of $326.22 million slightly beat expectations; insiders also sold shares recently, and the stock was trading around $81.72.

Tejara Capital Ltd raised its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 127.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,600 shares of the oil and gas company's stock after purchasing an additional 25,000 shares during the quarter. Tejara Capital Ltd owned 0.09% of Tidewater worth $2,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TDW. Hantz Financial Services Inc. grew its holdings in shares of Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company's stock valued at $28,000 after purchasing an additional 413 shares during the last quarter. Blume Capital Management Inc. grew its stake in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 295 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 870 shares during the period. Headlands Technologies LLC bought a new stake in Tidewater in the second quarter valued at approximately $47,000. Finally, Wexford Capital LP acquired a new stake in Tidewater during the 3rd quarter valued at approximately $56,000. Institutional investors own 95.13% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Dawson James reiterated an "outperform" rating on shares of Tidewater in a research report on Tuesday, March 3rd. Zacks Research raised shares of Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 20th. Raymond James Financial set a $117.00 price target on Tidewater in a report on Tuesday, March 3rd. Finally, Barclays lifted their price objective on Tidewater from $80.00 to $86.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Tidewater presently has a consensus rating of "Hold" and a consensus price target of $89.33.

Insider Buying and Selling

In other news, EVP Samuel R. Rubio sold 22,461 shares of the business's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the sale, the executive vice president owned 60,066 shares in the company, valued at $4,808,283.30. The trade was a 27.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel A. Hudson sold 5,195 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the transaction, the executive vice president directly owned 45,971 shares in the company, valued at $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,656 shares of company stock valued at $3,379,012 in the last three months. Insiders own 5.90% of the company's stock.

Tidewater Trading Up 0.8%

TDW opened at $81.72 on Friday. The company has a fifty day moving average price of $82.16 and a two-hundred day moving average price of $67.17. Tidewater Inc. has a 1-year low of $38.24 and a 1-year high of $93.13. The company has a market cap of $4.06 billion, a P/E ratio of 13.69 and a beta of 0.57. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. During the same period last year, the company earned $0.83 EPS. Tidewater's revenue for the quarter was down 2.2% compared to the same quarter last year. Analysts predict that Tidewater Inc. will post 3.52 EPS for the current fiscal year.

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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