Hsbc Holdings PLC Cuts Stock Position in Tidewater Inc. (NYSE:TDW)

Hsbc Holdings PLC trimmed its position in shares of Tidewater Inc. (NYSE:TDW) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 547,474 shares of the oil and gas company’s stock after selling 21,672 shares during the quarter. Hsbc Holdings PLC owned about 1.05% of Tidewater worth $29,903,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Hodges Capital Management Inc. grew its holdings in Tidewater by 103.0% in the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock worth $5,288,000 after purchasing an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Tidewater by 23.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock valued at $8,431,000 after buying an additional 29,721 shares in the last quarter. Barclays PLC raised its stake in Tidewater by 354.2% in the third quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock valued at $5,661,000 after buying an additional 61,487 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Tidewater by 42,719.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after acquiring an additional 1,390,951 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Tidewater during the fourth quarter worth about $704,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $36.37 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 10.70 and a beta of 0.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The firm has a 50 day simple moving average of $40.38 and a 200-day simple moving average of $50.09. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $111.42.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TDW. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their price target for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

Insider Buying and Selling

In other Tidewater news, Director Robert Robotti purchased 25,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This trade represents a 1.14 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.33% of the stock is currently owned by company insiders.

About Tidewater

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 oil and 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.