D.C. Capital Advisors Ltd raised its holdings in Tidewater Inc. (NYSE:TDW) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,000 shares of the oil and gas company’s stock after acquiring an additional 25,000 shares during the period. Tidewater makes up 2.6% of D.C. Capital Advisors Ltd’s investment portfolio, making the stock its 17th largest position. D.C. Capital Advisors Ltd owned about 0.67% of Tidewater worth $5,458,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TDW. Rhumbline Advisers bought a new stake in shares of Tidewater in the 2nd quarter worth about $705,000. Bank of New York Mellon Corp boosted its holdings in shares of Tidewater by 418.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 107,218 shares of the oil and gas company’s stock valued at $3,101,000 after buying an additional 86,553 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of Tidewater by 137.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 158,961 shares of the oil and gas company’s stock valued at $4,599,000 after buying an additional 91,886 shares during the period. American International Group Inc. boosted its holdings in shares of Tidewater by 4.6% in the 2nd quarter. American International Group Inc. now owns 2,356,828 shares of the oil and gas company’s stock valued at $68,183,000 after buying an additional 103,780 shares during the period. Finally, First Trust Bank Ltd. acquired a new position in shares of Tidewater in the 2nd quarter valued at about $2,274,000. 82.79% of the stock is currently owned by hedge funds and other institutional investors.
NYSE TDW opened at $24.05 on Friday. Tidewater Inc. has a one year low of $23.52 and a one year high of $36.09. The company has a current ratio of 5.00, a quick ratio of 4.82 and a debt-to-equity ratio of 0.46.
Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, November 13th. The oil and gas company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.09). Tidewater had a negative net margin of 26.10% and a negative return on equity of 8.31%. The business had revenue of $99.19 million during the quarter, compared to analyst estimates of $103.39 million. During the same period last year, the firm posted ($0.81) earnings per share. As a group, analysts anticipate that Tidewater Inc. will post -2.14 EPS for the current fiscal year.
Separately, ValuEngine lowered shares of Tidewater from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th.
In other news, CFO Quinn P. Fanning sold 16,623 shares of Tidewater stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $32.00, for a total value of $531,936.00. Following the completion of the transaction, the chief financial officer now directly owns 153,600 shares of the company’s stock, valued at approximately $4,915,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.60% of the company’s stock.
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Tidewater Inc provides offshore service vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore exploration, field development, and production, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, remotely operated vehicle (ROV) operations, and seismic and subsea support; and various specialized services, such as pipe and cable laying.
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