Tidewater Inc. (NYSE:TDW) Director Robert Robotti Purchases 1,770 Shares

Tidewater Inc. (NYSE:TDW) Director Robert Robotti purchased 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $40.95 per share, with a total value of $72,481.50. Following the acquisition, the director now owns 2,183,670 shares in the company, valued at $89,421,286.50. This represents a 0.08 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Tidewater Trading Down 0.5 %

NYSE:TDW traded down $0.19 on Thursday, hitting $40.58. The stock had a trading volume of 904,019 shares, compared to its average volume of 1,161,132. The company has a fifty day moving average price of $53.34 and a two-hundred day moving average price of $60.57. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 11.94 and a beta of 1.04. 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 1-year low of $38.65 and a 1-year high of $111.42.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TDW. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and lowered their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. DNB Markets assumed coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $92.50.

Hedge Funds Weigh In On Tidewater

Large investors have recently modified their holdings of the business. Fortitude Family Office LLC acquired a new position in Tidewater in the fourth quarter valued at about $33,000. AlphaQuest LLC raised its stake in shares of Tidewater by 177.4% in the 4th 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. Headlands Technologies LLC acquired a new position in shares of Tidewater in the 4th quarter worth approximately $53,000. Quarry LP boosted its position in shares of Tidewater by 187.6% during the 3rd quarter. Quarry LP now owns 814 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 531 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in Tidewater by 45.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 333 shares during the last quarter. Institutional investors and hedge funds 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.