Quintin Kneen Acquires 41,615 Shares of Tidewater Inc. (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW - Get Free Report) CEO Quintin Kneen purchased 41,615 shares of the company's stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares in the company, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Tidewater Price Performance

NYSE TDW traded down $0.57 on Monday, hitting $47.06. The stock had a trading volume of 763,699 shares, compared to its average volume of 910,147. The firm has a 50-day moving average of $56.95 and a 200-day moving average of $77.73. 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 52-week low of $46.50 and a 52-week high of $111.42. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 13.89 and a beta of 1.10.

Institutional Investors Weigh In On Tidewater

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky purchased a new position in Tidewater during the second quarter worth about $1,241,000. Centiva Capital LP purchased a new position in shares of Tidewater during the third quarter worth about $958,000. Raymond James & Associates increased its position in shares of Tidewater by 11.9% in the third quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company's stock worth $6,725,000 after purchasing an additional 9,952 shares during the last quarter. Citigroup Inc. raised its stake in Tidewater by 75.2% in the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company's stock valued at $4,193,000 after purchasing an additional 25,064 shares in the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in Tidewater during the second quarter valued at approximately $10,171,000. Hedge funds and other institutional investors own 95.13% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. DNB Markets began coverage on shares of Tidewater in a report on Friday, November 29th. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Raymond James cut shares of Tidewater from a "strong-buy" rating to an "outperform" rating and lowered their target price for the company from $131.00 to $102.00 in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Tidewater has an average rating of "Moderate Buy" and an average target price of $95.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.