Insider Buying: Tidewater Inc. (NYSE:TDW) Director Acquires 560 Shares of Stock

Tidewater Inc. (NYSE:TDW - Get Free Report) Director Robert Robotti bought 560 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were acquired at an average price of $40.55 per share, for a total transaction of $22,708.00. Following the completion of the transaction, the director now owns 2,209,957 shares in the company, valued at $89,613,756.35. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, March 13th, Robert Robotti purchased 25,000 shares of Tidewater stock. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00.
• On Wednesday, March 5th, Robert Robotti purchased 1,770 shares of Tidewater stock. The stock was purchased at an average price of $40.95 per share, for a total transaction of $72,481.50.

Tidewater Trading Up 0.7%

Shares of NYSE:TDW traded up $0.30 during mid-day trading on Thursday, hitting $42.40. The company had a trading volume of 341,459 shares, compared to its average volume of 1,089,577. The firm has a fifty day moving average price of $38.22 and a 200 day moving average price of $46.09. The company has a market capitalization of $2.10 billion, a PE ratio of 12.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a one year low of $31.17 and a one year high of $108.44.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the company posted $0.89 earnings per share. As a group, research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current year.

Institutional Trading of Tidewater

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. Barclays PLC increased its stake in Tidewater by 354.2% during the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after purchasing an additional 61,487 shares in the last quarter. Spire Wealth Management increased its stake in Tidewater by 79.7% during the 4th quarter. Spire Wealth Management now owns 3,485 shares of the oil and gas company's stock valued at $191,000 after purchasing an additional 1,546 shares in the last quarter. Hodges Capital Management Inc. grew its stake in shares of Tidewater by 103.0% in the 4th quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after acquiring an additional 49,050 shares in the last quarter. Tectonic Advisors LLC grew its stake in shares of Tidewater by 2.3% in the 4th quarter. Tectonic Advisors LLC now owns 17,574 shares of the oil and gas company's stock worth $961,000 after acquiring an additional 402 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of Tidewater in the 4th quarter worth $368,000. Institutional investors own 95.13% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James dropped their price target on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Tidewater has an average rating of "Hold" and an average target price of $69.33.

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.