Quinn Opportunity Partners LLC purchased a new stake in Tidewater Inc. (NYSE:TDW – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 20,000 shares of the oil and gas company’s stock, valued at approximately $882,000.
Other large investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in shares of Tidewater during the first quarter valued at about $2,413,000. Acadian Asset Management LLC acquired a new stake in shares of Tidewater during the first quarter valued at about $393,000. MetLife Investment Management LLC grew its stake in shares of Tidewater by 24.8% during the first quarter. MetLife Investment Management LLC now owns 21,360 shares of the oil and gas company’s stock valued at $464,000 after acquiring an additional 4,241 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Tidewater by 12.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,075,799 shares of the oil and gas company’s stock valued at $23,388,000 after acquiring an additional 121,346 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Tidewater during the first quarter valued at about $505,000. 84.19% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Samuel R. Rubio sold 21,788 shares of Tidewater stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $62.37, for a total transaction of $1,358,917.56. Following the sale, the chief financial officer now owns 117,677 shares of the company’s stock, valued at $7,339,514.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Tidewater news, Director Robert Robotti purchased 117,698 shares of the business’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $62.28 per share, with a total value of $7,330,231.44. Following the completion of the acquisition, the director now owns 3,185,971 shares in the company, valued at approximately $198,422,273.88. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Samuel R. Rubio sold 21,788 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $62.37, for a total transaction of $1,358,917.56. Following the transaction, the chief financial officer now owns 117,677 shares in the company, valued at approximately $7,339,514.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 167,033 shares of company stock valued at $10,431,595. Insiders own 9.59% of the company’s stock.
Tidewater Stock Performance
Tidewater (NYSE:TDW – Get Free Report) last issued its earnings results on Monday, August 7th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.28). Tidewater had a return on equity of 7.21% and a net margin of 6.27%. The business had revenue of $214.96 million during the quarter, compared to the consensus estimate of $220.45 million. Equities analysts anticipate that Tidewater Inc. will post 3.73 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. StockNews.com assumed coverage on Tidewater in a research note on Thursday, August 17th. They set a “hold” rating for the company. BTIG Research started coverage on shares of Tidewater in a research report on Wednesday, June 21st. They set a “buy” rating and a $75.00 price target on the stock. Evercore ISI started coverage on shares of Tidewater in a research report on Friday, July 7th. They set an “outperform” rating and a $90.00 price target on the stock. TheStreet raised shares of Tidewater from a “c+” rating to a “b-” rating in a research report on Friday, June 30th. Finally, Raymond James started coverage on shares of Tidewater in a research report on Thursday, July 13th. They set a “strong-buy” rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $83.33.
Tidewater Inc, together with its subsidiaries, provides offshore support 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 crude oil and natural gas exploration, field development, and production, as well as windfarm development and maintenance, 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, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.
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