Tidewater Inc. (NYSE:TDW) Director Robert Robotti Buys 10,000 Shares

Tidewater Inc. (NYSE:TDW - Get Free Report) Director Robert Robotti bought 10,000 shares of Tidewater stock in a transaction on Tuesday, June 3rd. The shares were purchased at an average price of $42.14 per share, for a total transaction of $421,400.00. Following the acquisition, the director now directly owns 2,219,957 shares in the company, valued at approximately $93,548,987.98. This trade represents a 0.45% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, June 4th, Robert Robotti bought 15,000 shares of Tidewater stock. The shares were purchased at an average price of $42.05 per share, for a total transaction of $630,750.00.
• On Friday, May 30th, Robert Robotti acquired 560 shares of Tidewater stock. The stock was purchased at an average price of $40.55 per share, with a total value of $22,708.00.
• On Thursday, March 13th, Robert Robotti acquired 25,000 shares of Tidewater stock. The stock was purchased at an average price of $40.11 per share, with a total value of $1,002,750.00.

Tidewater Stock Up 3.2%

Shares of NYSE:TDW traded up $1.34 on Friday, hitting $43.57. 78,435 shares of the company traded hands, compared to its average volume of 1,089,413. Tidewater Inc. has a 52 week low of $31.17 and a 52 week high of $108.44. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The stock has a 50 day simple moving average of $38.21 and a 200-day simple moving average of $46.03. The company has a market cap of $2.16 billion, a PE ratio of 12.83 and a beta of 1.00.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results 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 return on equity of 18.16% and a net margin of 13.92%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. Tidewater's quarterly revenue was up 3.8% compared to the same quarter last year. As a group, research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current year.

Institutional Trading of Tidewater

Several institutional investors have recently added to or reduced their stakes in TDW. Barclays PLC boosted 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 during the last quarter. Spire Wealth Management increased its holdings in Tidewater by 79.7% in the 4th quarter. Spire Wealth Management now owns 3,485 shares of the oil and gas company's stock worth $191,000 after buying an additional 1,546 shares in the last quarter. Tectonic Advisors LLC increased its holdings in 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 buying an additional 402 shares in the last quarter. Bleakley Financial Group LLC bought a new stake in Tidewater in the 4th quarter worth about $368,000. Finally, Van ECK Associates Corp increased its holdings in Tidewater by 17.5% in the 4th quarter. Van ECK Associates Corp now owns 836,253 shares of the oil and gas company's stock worth $45,752,000 after buying an additional 124,610 shares in the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Raymond James decreased their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $69.33.

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.