Insider Buying: Tidewater Inc. (NYSE:TDW) Director Buys 15,000 Shares of Stock

Tidewater Inc. (NYSE:TDW - Get Free Report) Director Robert Robotti bought 15,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was purchased at an average cost of $42.05 per share, with a total value of $630,750.00. Following the completion of the purchase, the director now directly owns 2,234,957 shares of the company's stock, valued at $93,979,941.85. This represents a 0.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 3rd, Robert Robotti bought 10,000 shares of Tidewater stock. The stock was purchased at an average cost of $42.14 per share, with a total value of $421,400.00.
• On Friday, May 30th, Robert Robotti bought 560 shares of Tidewater stock. The stock was purchased at an average cost of $40.55 per share, with a total value of $22,708.00.
• On Thursday, March 13th, Robert Robotti bought 25,000 shares of Tidewater stock. The stock was purchased at an average cost of $40.11 per share, with a total value of $1,002,750.00.

Tidewater Stock Performance

Tidewater stock traded up $1.34 during mid-day trading on Friday, hitting $43.57. 78,435 shares of the company's stock traded hands, compared to its average volume of 1,089,413. The firm has a 50 day simple moving average of $38.21 and a two-hundred day simple moving average of $46.03. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $108.44. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 12.83 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 (NYSE:TDW - Get Free Report) last posted its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates 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 company earned $0.89 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James cut their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Tidewater presently has an average rating of "Hold" and an average target price of $69.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. Price T Rowe Associates Inc. MD grew its position in Tidewater by 69.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock valued at $165,058,000 after acquiring an additional 1,598,513 shares during the last quarter. Norges Bank bought a new position in Tidewater in the fourth quarter valued at about $32,388,000. Dimensional Fund Advisors LP raised its position in Tidewater by 22.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,551,729 shares of the oil and gas company's stock valued at $84,888,000 after purchasing an additional 286,097 shares during the last quarter. Encompass Capital Advisors LLC raised its position in Tidewater by 17.7% in the fourth quarter. Encompass Capital Advisors LLC now owns 1,582,328 shares of the oil and gas company's stock valued at $86,569,000 after purchasing an additional 238,170 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Tidewater during the fourth quarter worth about $12,574,000. 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.