Insider Buying: Tidewater Inc. (NYSE:TDW) Director Acquires $1,002,750.00 in Stock

Tidewater Inc. (NYSE:TDW) Director Robert Robotti purchased 25,000 shares of Tidewater stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the transaction, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Robert Robotti also recently made the following trade(s):

• On Wednesday, March 5th, Robert Robotti bought 1,770 shares of Tidewater stock. The stock was purchased at an average cost of $40.95 per share, with a total value of $72,481.50.

Tidewater Trading Up 1.3 %

Shares of TDW opened at $40.46 on Monday. 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. The company has a 50 day simple moving average of $51.32 and a two-hundred day simple moving average of $57.92. The firm has a market cap of $2.08 billion, a P/E ratio of 11.90 and a beta of 1.06.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently added to or reduced their stakes in the stock. Centiva Capital LP bought a new position in shares of Tidewater during the 3rd quarter valued at approximately $958,000. Hodges Capital Management Inc. boosted its position in shares of Tidewater by 103.0% during the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company’s stock valued at $5,288,000 after acquiring an additional 49,050 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Tidewater by 23.9% during the 4th quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company’s stock valued at $8,431,000 after acquiring an additional 29,721 shares during the last quarter. Citigroup Inc. boosted its position in shares of Tidewater by 75.2% during the 3rd quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock valued at $4,193,000 after acquiring an additional 25,064 shares during the last quarter. Finally, Barclays PLC boosted its position 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 valued at $5,661,000 after acquiring an additional 61,487 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.