Tidewater Inc. (NYSE:TDW) Director Robert Robotti Buys 25,000 Shares of Stock

Tidewater Inc. (NYSE:TDW) Director Robert Robotti bought 25,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $40.11 per share, for a total transaction 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. This represents a 1.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were bought at an average cost of $40.95 per share, for a total transaction of $72,481.50.

Tidewater Stock Performance

Shares of TDW stock opened at $40.46 on Friday. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 11.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The business has a fifty day moving average of $51.64 and a 200 day moving average of $58.70. Tidewater Inc. has a 1 year low of $38.65 and a 1 year high of $111.42.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TDW. DNB Markets began coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and decreased their price objective for the company 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 analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Tidewater currently has a consensus rating of “Moderate Buy” and an average target price of $92.50.

Hedge Funds Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its stake in Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company’s stock worth $257,000 after acquiring an additional 267 shares during the last quarter. Glenmede Trust Co. NA raised its stake in Tidewater by 3.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,479 shares of the oil and gas company’s stock worth $680,000 after acquiring an additional 321 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 333 shares during the period. Tectonic Advisors LLC grew its position in Tidewater by 2.3% during the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company’s stock worth $961,000 after purchasing an additional 402 shares during the period. Finally, Private Advisor Group LLC grew its position in Tidewater by 9.5% during the 4th quarter. Private Advisor Group LLC now owns 5,315 shares of the oil and gas company’s stock worth $291,000 after purchasing an additional 463 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.