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 that occurred on Thursday, March 13th. The stock was purchased at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the acquisition, the director now owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, March 5th, Robert Robotti bought 1,770 shares of Tidewater stock. The stock was purchased at an average price of $40.95 per share, with a total value of $72,481.50.

Tidewater Stock Performance

Tidewater stock traded up $0.53 during midday trading on Friday, reaching $40.46. 1,788,652 shares of the stock traded hands, compared to its average volume of 1,001,353. The firm has a fifty day moving average price of $51.64 and a two-hundred day moving average price of $58.70. Tidewater Inc. has a fifty-two week low of $38.65 and a fifty-two week high of $111.42. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 11.90 and a beta of 1.06. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Tidewater

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Fortitude Family Office LLC bought a new position in shares of Tidewater in the fourth quarter worth $33,000. AlphaQuest LLC increased its stake in Tidewater by 177.4% during the 4th quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 511 shares during the period. Headlands Technologies LLC bought a new stake in shares of Tidewater during the 4th quarter worth about $53,000. Quarry LP raised 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 buying an additional 531 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of 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 worth $58,000 after acquiring an additional 333 shares during the period. 95.13% of the stock is owned by institutional investors.

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.