Insider Buying: Tidewater Inc. (NYSE:TDW) Director Purchases 1,770 Shares of Stock

Tidewater Inc. (NYSE:TDW - Get Free Report) Director Robert Robotti purchased 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 acquisition, the director now directly owns 2,183,670 shares of the company's stock, valued at $89,421,286.50. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tidewater Stock Performance

Shares of NYSE TDW traded up $2.20 during midday trading on Friday, hitting $43.20. The company's stock had a trading volume of 1,629,285 shares, compared to its average volume of 994,002. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.70 and a beta of 1.06. 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 stock has a fifty day moving average price of $52.78 and a 200 day moving average price of $59.79. Tidewater Inc. has a one year low of $38.65 and a one year high of $111.42.

Hedge Funds Weigh In On Tidewater

Hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new position in Tidewater in the 4th quarter worth about $33,000. AlphaQuest LLC boosted its position in shares of Tidewater by 177.4% in the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 511 shares during the period. Quarry LP grew its stake in Tidewater by 187.6% during the third quarter. Quarry LP now owns 814 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 531 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in Tidewater during the third quarter valued at approximately $65,000. Finally, Headlands Technologies LLC bought a new stake in Tidewater during the 4th quarter worth approximately $53,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TDW. Raymond James downgraded shares of Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their price objective for the stock from $131.00 to $102.00 in a report on Monday, November 11th. DNB Markets started coverage on shares of Tidewater in a research note on Friday, November 29th. They set a "buy" rating and a $70.00 price target for the company. Evercore ISI cut shares of Tidewater from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, Pickering Energy Partners lowered Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus 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.