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

Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) were up 6% during trading on Friday following insider buying activity. The stock traded as high as $43.35 and last traded at $43.44. Approximately 147,229 shares were traded during trading, a decline of 85% from the average daily volume of 987,542 shares. The stock had previously closed at $41.00.

Specifically, Director Robert Robotti bought 1,770 shares of Tidewater stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the acquisition, the director now owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. The trade was a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TDW. Evercore ISI downgraded 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. DNB Markets initiated coverage on Tidewater in a report on Friday, November 29th. They set a "buy" rating and a $70.00 target price on the stock. Raymond James cut shares of 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 cut shares of 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of "Moderate Buy" and an average price target of $92.50.

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Tidewater Stock Up 5.4 %

The company's 50-day moving average is $52.78 and its 200 day moving average is $59.79. The company has a market capitalization of $2.22 billion, a PE ratio of 12.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TDW. Fortitude Family Office LLC bought a new stake in Tidewater in the fourth quarter worth about $33,000. AlphaQuest LLC raised its holdings 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of Tidewater in the fourth quarter valued at about $53,000. Quarry LP raised its holdings in shares of Tidewater by 187.6% in 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. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Tidewater by 45.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 333 shares in the last quarter. 95.13% of the stock is currently owned by 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.