Insider Buying: Tidewater Inc. (NYSE:TDW) CEO Acquires 41,615 Shares of Stock

Tidewater Inc. (NYSE:TDW) CEO Quintin Kneen acquired 41,615 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the completion of the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This represents a 30.91 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Tidewater Price Performance

NYSE TDW opened at $47.06 on Tuesday. The stock has a 50-day simple moving average of $56.49 and a 200 day simple moving average of $77.33. Tidewater Inc. has a twelve month low of $46.50 and a twelve month high of $111.42. The stock has a market capitalization of $2.46 billion, a PE ratio of 13.84 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP acquired a new stake in shares of Tidewater in the second quarter worth $27,000. Hollencrest Capital Management acquired a new stake in Tidewater in the 2nd quarter worth $30,000. GAMMA Investing LLC grew its position in Tidewater by 163.5% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock worth $50,000 after purchasing an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Tidewater during the 3rd quarter worth about $65,000. Finally, Headlands Technologies LLC raised its position in shares of Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,138 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TDW. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. DNB Markets assumed coverage on Tidewater in a research report on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. Finally, Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and an average target price of $95.80.

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.