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

Tidewater Inc. (NYSE:TDW) Director Robert Robotti acquired 1,770 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $40.95 per share, with a total value of $72,481.50. Following the acquisition, the director now directly owns 2,183,670 shares of the company’s stock, valued at $89,421,286.50. This represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Tidewater Stock Up 5.4 %

Shares of TDW opened at $43.20 on Friday. The firm has a market cap of $2.22 billion, a P/E ratio of 12.70 and a beta of 1.06. The stock has a 50 day simple moving average of $52.78 and a two-hundred day simple moving average of $59.79. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a 1 year low of $38.65 and a 1 year high of $111.42.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Tidewater by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 5,486,286 shares of the oil and gas company’s stock valued at $300,155,000 after purchasing an additional 56,919 shares during the last quarter. Robotti Robert lifted its position in Tidewater by 1.1% in the fourth quarter. Robotti Robert now owns 2,632,980 shares of the oil and gas company’s stock valued at $144,050,000 after purchasing an additional 28,083 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Tidewater by 20.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after purchasing an additional 390,814 shares during the last quarter. State Street Corp lifted its position in Tidewater by 1.9% in the third quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock valued at $134,044,000 after purchasing an additional 35,318 shares during the last quarter. Finally, Encompass Capital Advisors LLC lifted its position in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company’s stock valued at $86,569,000 after purchasing an additional 238,170 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

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