Quintin Kneen Purchases 41,615 Shares of Tidewater Inc. (NYSE:TDW) Stock

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

Tidewater Trading Up 11.7 %

NYSE TDW opened at $52.54 on Wednesday. The stock’s fifty day moving average price is $56.49 and its 200-day moving average price is $77.33. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.75 billion, a P/E ratio of 15.45 and a beta of 1.10. Tidewater Inc. has a 12 month low of $46.50 and a 12 month high of $111.42.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TDW. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $131.00 to $102.00 in a research note on Monday, November 11th. DNB Markets initiated coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

Institutional Trading of Tidewater

Several institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Tidewater by 1.9% in the third quarter. State Street Corp now owns 1,867,165 shares of the oil and gas company’s stock worth $134,044,000 after buying an additional 35,318 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tidewater by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company’s stock valued at $78,473,000 after acquiring an additional 5,713 shares in the last quarter. Van ECK Associates Corp purchased a new position in Tidewater in the 3rd quarter worth approximately $51,089,000. Hsbc Holdings PLC lifted its position in Tidewater by 11,317.3% in the 2nd quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock valued at $60,992,000 after acquiring an additional 639,765 shares in the last quarter. Finally, Cerity Partners LLC boosted its stake in Tidewater by 173.4% during the 3rd 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 during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.