Tidewater Inc. (NYSE:TDW) CEO Quintin Kneen Purchases 41,615 Shares

Tidewater Inc. (NYSE:TDW) CEO Quintin Kneen acquired 41,615 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Tidewater Price Performance

Shares of Tidewater stock opened at $52.54 on Wednesday. The stock has a market cap of $2.75 billion, a P/E ratio of 15.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock’s fifty day moving average is $56.49 and its 200 day moving average is $77.33. Tidewater Inc. has a one year low of $46.50 and a one year high of $111.42.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Sage Mountain Advisors LLC increased its holdings in Tidewater by 4.8% in the 2nd quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock worth $251,000 after acquiring an additional 120 shares in the last quarter. Natixis Advisors LLC increased its stake in shares of Tidewater by 0.7% in the second quarter. Natixis Advisors LLC now owns 26,520 shares of the oil and gas company’s stock worth $2,525,000 after purchasing an additional 174 shares in the last quarter. Tidal Investments LLC raised its position in shares of Tidewater by 8.1% during the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 267 shares during the period. Xponance Inc. lifted its stake in shares of Tidewater by 9.9% during the 2nd quarter. Xponance Inc. now owns 3,092 shares of the oil and gas company’s stock valued at $294,000 after buying an additional 279 shares in the last quarter. Finally, Quarry LP bought a new position in Tidewater in the 2nd quarter worth $27,000. Institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $131.00 to $102.00 in a research note on Monday, November 11th. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, DNB Markets assumed coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.