Hsbc Holdings PLC Has $29.90 Million Position in Tidewater Inc. (NYSE:TDW)

Hsbc Holdings PLC cut its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TDW. Pacer Advisors Inc. boosted its position in shares of Tidewater by 42,719.6% during 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 purchasing an additional 1,390,951 shares in the last quarter. Norges Bank bought a new position in shares of Tidewater during the fourth quarter worth $32,388,000. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 22.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock worth $84,888,000 after purchasing an additional 286,097 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Tidewater during the fourth quarter worth $7,204,000. Finally, Villere ST Denis J & Co. LLC boosted its position in shares of Tidewater by 35.1% during the fourth quarter. Villere ST Denis J & Co. LLC now owns 486,808 shares of the oil and gas company's stock worth $26,633,000 after purchasing an additional 126,441 shares in the last quarter. 95.13% of the stock is owned by institutional investors.

Insider Activity at Tidewater

In related news, Director Robert Robotti bought 25,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.33% of the stock is currently owned by insiders.

Tidewater Stock Up 0.7 %

TDW traded up $0.24 during trading on Monday, hitting $36.59. The company had a trading volume of 687,621 shares, compared to its average volume of 1,083,408. The company has a market capitalization of $1.88 billion, a PE ratio of 10.76 and a beta of 0.70. Tidewater Inc. has a one year low of $31.17 and a one year high of $111.42. The firm's 50-day moving average price is $40.05 and its 200 day moving average price is $49.62. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and reduced their price target for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $92.50.

Tidewater Profile

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.