Hosking Partners LLP Trims Stock Holdings in Tidewater Inc. (NYSE:TDW)

Hosking Partners LLP cut its stake in Tidewater Inc. (NYSE:TDW) by 5.8% in the fourth quarter, HoldingsChannel reports. The fund owned 217,763 shares of the oil and gas company’s stock after selling 13,302 shares during the period. Hosking Partners LLP’s holdings in Tidewater were worth $11,914,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TDW. Tidal Investments LLC boosted 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 worth $257,000 after purchasing an additional 267 shares in the last quarter. Glenmede Trust Co. NA lifted its position in shares of Tidewater by 3.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock valued at $680,000 after buying an additional 321 shares in the last quarter. Tectonic Advisors LLC lifted its position in shares of Tidewater by 2.3% during the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock valued at $961,000 after buying an additional 402 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Tidewater by 9.5% in the fourth quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock valued at $291,000 after purchasing an additional 463 shares during the period. Finally, Quarry LP increased its stake in Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after buying an additional 531 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. DNB Markets initiated coverage on shares of Tidewater in a report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective for the company. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Price Performance

TDW stock opened at $48.77 on Friday. The stock has a 50-day moving average price of $53.75 and a two-hundred day moving average price of $61.85. Tidewater Inc. has a 12-month low of $46.50 and a 12-month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The company has a market cap of $2.55 billion, a PE ratio of 14.34 and a beta of 1.04.

Insider Buying and Selling

In other news, CEO Quintin Kneen bought 41,615 shares of Tidewater stock in a transaction on Friday, December 13th. The shares were bought at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.33% of the stock is currently owned by insiders.

Tidewater Company 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.