Marnell Management LLC Invests $4.52 Million in Tidewater Inc. $TDW

Marnell Management LLC purchased a new position in shares of Tidewater Inc. (NYSE:TDW) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,546 shares of the oil and gas company’s stock, valued at approximately $4,523,000. Tidewater comprises 2.2% of Marnell Management LLC’s investment portfolio, making the stock its 11th largest holding. Marnell Management LLC owned about 0.18% of Tidewater as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in TDW. Hantz Financial Services Inc. grew its holdings in shares of Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 413 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Tidewater by 22.2% during the fourth 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 last quarter. EverSource Wealth Advisors LLC grew its holdings 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 worth $46,000 after purchasing an additional 870 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Tidewater during the second quarter worth about $47,000. Finally, Arax Advisory Partners bought a new stake in shares of Tidewater during the fourth quarter worth about $55,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Price Performance

Shares of TDW opened at $76.94 on Monday. Tidewater Inc. has a 52-week low of $44.11 and a 52-week high of $93.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33. The business’s 50 day moving average price is $81.66 and its two-hundred day moving average price is $70.69. The firm has a market cap of $3.83 billion, a PE ratio of 12.89 and a beta of 0.50.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The business had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. During the same period last year, the firm posted $0.83 earnings per share. Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Tidewater Inc. will post 3.52 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TDW shares. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Barclays boosted their price target on Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $89.33.

Tidewater Company 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.