Tidewater Inc. (NYSE:TDW) Director Robert Robotti Acquires 1,486 Shares

Tidewater Inc. (NYSE:TDW) Director Robert Robotti acquired 1,486 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was acquired at an average cost of $67.32 per share, with a total value of $100,037.52. Following the completion of the transaction, the director now owns 3,235,657 shares of the company’s stock, valued at $217,824,429.24. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, August 10th, Robert Robotti purchased 48,200 shares of Tidewater stock. The stock was acquired at an average price of $63.00 per share, for a total transaction of $3,036,600.00.
• On Monday, July 31st, Robert Robotti acquired 117,698 shares of Tidewater stock. The stock was bought at an average price of $62.28 per share, for a total transaction of $7,330,231.44.
• On Monday, July 24th, Robert Robotti bought 1,135 shares of Tidewater stock. The shares were bought at an average price of $57.06 per share, with a total value of $64,763.10.

Tidewater Price Performance

Shares of NYSE:TDW traded up $1.44 during trading on Monday, reaching $70.46. 264,379 shares of the company traded hands, compared to its average volume of 785,764. The firm has a market capitalization of $3.71 billion, a PE ratio of 73.43 and a beta of 1.41. Tidewater Inc. has a 52 week low of $20.02 and a 52 week high of $70.78. The company has a quick ratio of 1.88, a current ratio of 1.99 and a debt-to-equity ratio of 0.20. The company’s 50 day moving average is $61.45 and its two-hundred day moving average is $51.06.

Tidewater (NYSE:TDW) last released its earnings results on Monday, August 7th. The oil and gas company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.28). The firm had revenue of $214.96 million during the quarter, compared to the consensus estimate of $220.45 million. Tidewater had a net margin of 6.27% and a return on equity of 7.21%. As a group, sell-side analysts predict that Tidewater Inc. will post 3.73 earnings per share for the current year.

Institutional Investors Weigh In On Tidewater

Several hedge funds and other institutional investors have recently made changes to their positions in TDW. Bank of Montreal Can acquired a new position in Tidewater in the 1st quarter worth about $2,413,000. Acadian Asset Management LLC acquired a new position in shares of Tidewater in the first quarter valued at approximately $393,000. MetLife Investment Management LLC raised its holdings in Tidewater by 24.8% in the 1st quarter. MetLife Investment Management LLC now owns 21,360 shares of the oil and gas company’s stock valued at $464,000 after buying an additional 4,241 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Tidewater by 12.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,075,799 shares of the oil and gas company’s stock worth $23,388,000 after buying an additional 121,346 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Tidewater during the 1st quarter worth approximately $505,000. 84.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TDW. Raymond James began coverage on shares of Tidewater in a research report on Thursday, July 13th. They set a “strong-buy” rating and a $85.00 price objective for the company. StockNews.com began coverage on Tidewater in a research note on Thursday, August 17th. They issued a “hold” rating for the company. BTIG Research assumed coverage on Tidewater in a report on Wednesday, June 21st. They issued a “buy” rating and a $75.00 price objective on the stock. TheStreet raised Tidewater from a “c+” rating to a “b-” rating in a report on Friday, June 30th. Finally, Evercore ISI started coverage on shares of Tidewater in a research note on Friday, July 7th. They issued an “outperform” rating and a $90.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tidewater presently has an average rating of “Buy” and a consensus price target of $83.33.

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 crude oil and natural 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.