Hsbc Holdings PLC Has $60.99 Million Position in Tidewater Inc. (NYSE:TDW)

Hsbc Holdings PLC lifted its stake in shares of Tidewater Inc. (NYSE:TDW) by 11,317.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 645,418 shares of the oil and gas company’s stock after buying an additional 639,765 shares during the quarter. Hsbc Holdings PLC owned about 1.22% of Tidewater worth $60,992,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TDW. Sage Mountain Advisors LLC raised its holdings in Tidewater by 4.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after acquiring an additional 120 shares during the period. GAMMA Investing LLC lifted its holdings in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 153 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the period. Natixis Advisors LLC grew its holdings in Tidewater by 0.7% in the 2nd quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock valued at $2,525,000 after buying an additional 174 shares in the last quarter. Finally, Precision Wealth Strategies LLC increased its position in Tidewater by 8.5% during the 4th quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Trading Up 3.0 %

TDW opened at $75.49 on Friday. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 30.07 and a beta of 1.13. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater Inc. has a twelve month low of $54.53 and a twelve month high of $111.42. The company has a 50-day simple moving average of $88.33 and a 200 day simple moving average of $93.10.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The company had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm’s quarterly revenue was up 57.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.46 EPS. Analysts predict that Tidewater Inc. will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has approved a share repurchase program on Tuesday, August 6th that allows the company to buyback $13.90 million in shares. This buyback authorization allows the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TDW shares. StockNews.com downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th. Raymond James increased their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $111.25.

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.