Tidewater (NYSE:TDW) Trading Up 6% After Insider Buying Activity

Tidewater Inc. (NYSE:TDW)’s share price was up 6% during mid-day trading on Friday following insider buying activity. The stock traded as high as $43.35 and last traded at $43.44. Approximately 147,229 shares changed hands during trading, a decline of 85% from the average daily volume of 987,542 shares. The stock had previously closed at $41.00.

Specifically, Director Robert Robotti bought 1,770 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were bought at an average cost of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the acquisition, the director now directly owns 2,183,670 shares in the company, valued at approximately $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Ratings Changes

A number of research firms have recently commented on TDW. DNB Markets began coverage on Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. Evercore ISI lowered Tidewater from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Tidewater presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.50.

Tidewater Trading Up 5.4 %

The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 12.70 and a beta of 1.04. The business has a 50-day moving average of $52.95 and a two-hundred day moving average of $60.29. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently added to or reduced their stakes in TDW. Pacer Advisors Inc. grew its position in Tidewater by 42,719.6% during the fourth quarter. Pacer Advisors Inc. now owns 1,394,207 shares of the oil and gas company’s stock worth $76,277,000 after buying an additional 1,390,951 shares in the last quarter. Norges Bank acquired a new stake in Tidewater during the fourth quarter valued at approximately $32,388,000. Price T Rowe Associates Inc. MD boosted its holdings in Tidewater by 20.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,306,313 shares of the oil and gas company’s stock valued at $126,180,000 after purchasing an additional 390,814 shares in the last quarter. Cerity Partners LLC boosted its holdings in Tidewater by 173.4% during the third quarter. Cerity Partners LLC now owns 608,245 shares of the oil and gas company’s stock valued at $43,666,000 after purchasing an additional 385,779 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC acquired a new stake in Tidewater during the third quarter valued at approximately $25,871,000. 95.13% of the stock is owned by institutional investors and hedge funds.

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.