Tidewater Inc. (NYSE:TDW) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Tidewater Inc. (NYSE:TDW - Free Report) by 73.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 194,984 shares of the oil and gas company's stock after selling 545,498 shares during the period. JPMorgan Chase & Co. owned about 0.37% of Tidewater worth $10,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. MML Investors Services LLC acquired a new position in Tidewater in the third quarter valued at approximately $225,000. Barclays PLC lifted its stake in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after purchasing an additional 61,487 shares during the period. Geode Capital Management LLC boosted its holdings in Tidewater by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company's stock worth $78,473,000 after buying an additional 5,713 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Tidewater by 30.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company's stock valued at $1,220,000 after buying an additional 3,969 shares during the period. Finally, Tidal Investments LLC grew its position in Tidewater by 8.1% during the third quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock valued at $257,000 after buying an additional 267 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

Insider Buying and Selling

In other news, Director Robert Robotti bought 25,000 shares of Tidewater stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the acquisition, the director now directly owns 2,208,670 shares of the company's stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.33% of the stock is currently owned by insiders.

Tidewater Price Performance

Shares of NYSE TDW traded up $2.02 during trading on Friday, hitting $34.29. The company had a trading volume of 929,455 shares, compared to its average volume of 1,078,512. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $111.42. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $42.35 and a two-hundred day simple moving average of $51.20. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 10.09 and a beta of 0.70.

Analyst Ratings Changes

TDW has been the topic of several recent analyst reports. Pickering Energy Partners lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Evercore ISI cut 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 report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.50.

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.