Raynor Geoffrey cut its stake in Tidewater Inc. (NYSE:TDW) by 95.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,462 shares of the oil and gas company’s stock after selling 139,207 shares during the period. Tidewater makes up about 11.4% of Raynor Geoffrey’s holdings, making the stock its 2nd largest holding. Raynor Geoffrey’s holdings in Tidewater were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its position in Tidewater by 19.4% in the second quarter. BlackRock Inc. now owns 2,650,081 shares of the oil and gas company’s stock worth $62,224,000 after acquiring an additional 431,361 shares during the period. Moerus Capital Management LLC grew its position in Tidewater by 10.0% in the first quarter. Moerus Capital Management LLC now owns 1,564,122 shares of the oil and gas company’s stock worth $36,272,000 after acquiring an additional 142,153 shares during the period. Marshall Wace North America L.P. grew its position in Tidewater by 221.1% in the second quarter. Marshall Wace North America L.P. now owns 71,498 shares of the oil and gas company’s stock worth $1,680,000 after acquiring an additional 49,230 shares during the period. Schroder Investment Management Group purchased a new position in Tidewater in the second quarter worth approximately $871,000. Finally, Virginia Retirement Systems ET AL purchased a new position in Tidewater in the second quarter worth approximately $871,000. Institutional investors and hedge funds own 82.60% of the company’s stock.
In other news, Director Kenneth H. Traub purchased 5,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $17.67 per share, for a total transaction of $88,350.00. Following the completion of the transaction, the director now directly owns 27,088 shares in the company, valued at approximately $478,644.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.47% of the company’s stock.
Tidewater stock traded down $0.59 during mid-day trading on Thursday, hitting $16.85. The company’s stock had a trading volume of 7,592 shares, compared to its average volume of 196,767. The firm has a market capitalization of $669.48 million, a PE ratio of -2.62 and a beta of 1.59. Tidewater Inc. has a 1 year low of $14.48 and a 1 year high of $36.09. The company has a current ratio of 4.34, a quick ratio of 4.15 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $17.26 and its two-hundred day moving average is $21.49.
Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 12th. The oil and gas company reported ($0.42) earnings per share for the quarter, topping the consensus estimate of ($0.86) by $0.44. The company had revenue of $125.86 million during the quarter, compared to analyst estimates of $131.77 million. Tidewater had a negative return on equity of 12.46% and a negative net margin of 34.78%. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.44) earnings per share. On average, equities analysts expect that Tidewater Inc. will post -2.87 EPS for the current fiscal year.
Tidewater Company Profile
Tidewater Inc provides offshore marine support and transportation 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, and seismic and subsea support; and various specialized services, such as pipe and cable laying.
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