OppenheimerFunds Inc. Has $605,000 Position in Tidewater Inc. (NYSE:TDW)
OppenheimerFunds Inc. increased its position in shares of Tidewater Inc. (NYSE:TDW) by 369.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 526,225 shares of the oil and gas company’s stock after buying an additional 414,142 shares during the period. OppenheimerFunds Inc. owned approximately 1.12% of Tidewater worth $605,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Tidewater during the fourth quarter worth approximately $119,000. Guggenheim Capital LLC increased its position in shares of Tidewater by 226.3% in the fourth quarter. Guggenheim Capital LLC now owns 437,794 shares of the oil and gas company’s stock valued at $1,492,000 after buying an additional 303,622 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Tidewater during the fourth quarter valued at about $985,000. Bank of New York Mellon Corp increased its position 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 valued at $3,545,000 after buying an additional 2,454,595 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Tidewater by 4.9% in the fourth quarter. Comerica Bank now owns 49,458 shares of the oil and gas company’s stock valued at $127,000 after buying an additional 2,315 shares during the last quarter. 77.87% of the stock is currently owned by hedge funds and other institutional investors.
Tidewater Inc. (NYSE TDW) traded down 0.32% during midday trading on Tuesday, reaching $25.06. The company’s stock had a trading volume of 156,395 shares. The stock has a 50-day moving average price of $27.16 and a 200 day moving average price of $35.08. The company’s market cap is $1.18 billion. Tidewater Inc. has a 12 month low of $20.37 and a 12 month high of $29.14.
Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, June 12th. The oil and gas company reported ($0.94) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.29) by $0.35. Tidewater had a negative net margin of 109.72% and a negative return on equity of 6.16%. The company had revenue of $160.75 million during the quarter, compared to analyst estimates of $118.75 million. Analysts expect that Tidewater Inc. will post ($169.67) earnings per share for the current fiscal year.
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Several equities research analysts have recently commented on the company. BidaskClub upgraded Tidewater from a “strong sell” rating to a “sell” rating in a report on Saturday. Zacks Investment Research lowered Tidewater from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $2.17.
Tidewater Company Profile
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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