Third Avenue Management LLC purchased a new position in Tidewater Inc. (NYSE:TDW) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 634,354 shares of the oil and gas company’s stock, valued at approximately $18,448,000. Third Avenue Management LLC owned approximately 1.35% of Tidewater at the end of the most recent quarter.
Several other large investors have also bought and sold shares of TDW. Bank of New York Mellon Corp lifted its stake in shares of Tidewater by 391.0% in the first quarter. Bank of New York Mellon Corp now owns 3,082,382 shares of the oil and gas company’s stock worth $3,545,000 after buying an additional 2,454,595 shares in the last quarter. Alta Fundamental Advisers LLC purchased a new position in Tidewater during the second quarter worth about $1,023,000. Q Global Advisors LLC purchased a new position in Tidewater during the second quarter worth about $835,000. South Dakota Investment Council raised its stake in Tidewater by 132.5% during the second quarter. South Dakota Investment Council now owns 965,000 shares of the oil and gas company’s stock worth $695,000 after purchasing an additional 550,000 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Tidewater by 369.5% during the first quarter. OppenheimerFunds Inc. now owns 526,225 shares of the oil and gas company’s stock worth $605,000 after purchasing an additional 414,142 shares during the period. 3.83% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Clarkson Capital raised shares of Tidewater from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 15th. BidaskClub cut shares of Tidewater from a “sell” rating to a “strong sell” rating in a report on Friday, August 11th. Finally, Zacks Investment Research cut shares of Tidewater from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd.
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Shares of Tidewater Inc. (NYSE:TDW) opened at $25.66 on Wednesday. Tidewater Inc. has a 12-month low of $20.37 and a 12-month high of $30.35. The company has a quick ratio of 3.24, a current ratio of 3.36 and a debt-to-equity ratio of 0.43.
Tidewater (NYSE:TDW) last released its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.81) EPS for the quarter, beating the consensus estimate of ($38.80) by $37.99. The business had revenue of $74.30 million during the quarter, compared to analysts’ expectations of $112.90 million. The firm’s revenue for the quarter was down 48.3% compared to the same quarter last year. During the same quarter last year, the company earned ($31.73) EPS.
Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil.
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