Tidewater Inc. (NYSE:TDW) Director Acquires $72,481.50 in Stock

Tidewater Inc. (NYSE:TDW) Director Robert Robotti bought 1,770 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the purchase, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. The trade was a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tidewater Stock Performance

NYSE TDW traded down $0.19 on Thursday, reaching $40.58. 904,019 shares of the company’s stock traded hands, compared to its average volume of 1,161,132. The stock has a 50 day moving average price of $53.34 and a 200-day moving average price of $60.57. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 11.94 and a beta of 1.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Centiva Capital LP purchased a new stake in Tidewater in the 3rd quarter worth approximately $958,000. Hodges Capital Management Inc. increased its holdings in Tidewater by 103.0% in the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock valued at $5,288,000 after buying an additional 49,050 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Tidewater by 23.9% in the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock valued at $8,431,000 after buying an additional 29,721 shares in the last quarter. Citigroup Inc. raised its position in shares of Tidewater by 75.2% in the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock worth $4,193,000 after acquiring an additional 25,064 shares during the period. Finally, Barclays PLC boosted its stake in shares of Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company’s stock worth $5,661,000 after acquiring an additional 61,487 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TDW shares. Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Raymond James downgraded Tidewater from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, DNB Markets initiated coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 price target for the company. 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 has a consensus rating of “Moderate Buy” and a consensus 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.