Tidewater (NYSE:TDW) Trading Up 6% on Insider Buying Activity

Tidewater Inc. (NYSE:TDW) traded up 6% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $43.35 and last traded at $43.44. 147,229 shares traded hands during trading, a decline of 85% from the average session volume of 987,542 shares. The stock had previously closed at $41.00.

Specifically, Director Robert Robotti acquired 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $40.95 per share, with a total value of $72,481.50. Following the completion of the acquisition, the director now owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several analysts have weighed in on TDW shares. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. DNB Markets assumed coverage on Tidewater in a report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.50.

Tidewater Stock Performance

The stock’s 50 day moving average price is $53.15 and its 200 day moving average price is $60.43. 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 $2.29 billion, a price-to-earnings ratio of 12.83 and a beta of 1.04.

Institutional Trading of Tidewater

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of Tidewater in the 4th quarter worth about $33,000. AlphaQuest LLC boosted its position in Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 511 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Tidewater during the 4th quarter valued at about $53,000. Quarry LP lifted its holdings in Tidewater by 187.6% in 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. Finally, EverSource Wealth Advisors LLC lifted its stake in Tidewater by 45.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 333 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

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.