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

Tidewater Inc. (NYSE:TDW) Director Robert Robotti acquired 25,000 shares of the stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $40.11 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Robotti also recently made the following trade(s):

• On Wednesday, March 5th, Robert Robotti purchased 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 Up 1.3 %

NYSE:TDW opened at $40.46 on Friday. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 12-month low of $38.65 and a 12-month high of $111.42. The stock’s fifty day simple moving average is $51.32 and its 200-day simple moving average is $58.13. The firm has a market capitalization of $2.08 billion, a P/E ratio of 11.90 and a beta of 1.06.

Hedge Funds Weigh In On Tidewater

Institutional investors have recently modified their holdings of the stock. CSS LLC IL acquired a new position in Tidewater during the fourth quarter valued at approximately $547,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Tidewater by 8.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 42,902 shares of the oil and gas company’s stock worth $2,347,000 after purchasing an additional 3,325 shares during the period. Voloridge Investment Management LLC grew its position in shares of Tidewater by 110.7% in the 4th quarter. Voloridge Investment Management LLC now owns 340,103 shares of the oil and gas company’s stock valued at $18,607,000 after purchasing an additional 178,650 shares during the period. Squarepoint Ops LLC increased its stake in Tidewater by 89.4% during the 4th quarter. Squarepoint Ops LLC now owns 208,744 shares of the oil and gas company’s stock worth $11,420,000 after purchasing an additional 98,522 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Tidewater by 15.2% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 531,981 shares of the oil and gas company’s stock worth $29,105,000 after buying an additional 70,194 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. 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 on the stock. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $92.50.

Tidewater Company Profile

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.