Tidewater Inc. (NYSE:TDW) Stock Position Decreased by Invesco Ltd.

Invesco Ltd. cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 64.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,018 shares of the oil and gas company’s stock after selling 361,987 shares during the period. Invesco Ltd.’s holdings in Tidewater were worth $10,998,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. increased its stake in Tidewater by 42,719.6% in the 4th 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 purchased a new position in shares of Tidewater in the fourth quarter worth approximately $32,388,000. Villere ST Denis J & Co. LLC raised its holdings 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 valued at $26,633,000 after acquiring an additional 126,441 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in shares of Tidewater by 135.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 219,183 shares of the oil and gas company’s stock valued at $11,992,000 after acquiring an additional 126,162 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in Tidewater by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company’s stock worth $45,752,000 after purchasing an additional 124,610 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Trading Up 1.8 %

Shares of NYSE:TDW opened at $33.85 on Wednesday. Tidewater Inc. has a 12-month low of $31.17 and a 12-month 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 firm has a market capitalization of $1.74 billion, a P/E ratio of 9.96 and a beta of 0.70. The firm has a fifty day moving average of $41.54 and a two-hundred day moving average of $50.67.

Insider Activity at Tidewater

In other Tidewater news, Director Robert Robotti bought 25,000 shares of Tidewater stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TDW. Pickering Energy Partners downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and dropped their price target for the company 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

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.