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

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

Tidewater Stock Performance

TDW opened at $49.42 on Thursday. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 14.54 and a beta of 1.10. The business’s 50-day moving average price is $55.79 and its two-hundred day moving average price is $76.78. Tidewater Inc. has a 1 year low of $46.50 and a 1 year high of $111.42. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19.

Institutional Investors Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. Teachers Retirement System of The State of Kentucky acquired a new position in Tidewater during the 2nd quarter worth approximately $1,241,000. Centiva Capital LP acquired a new position in Tidewater during the third quarter worth $958,000. Raymond James & Associates grew its position in Tidewater by 11.9% in the third quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company’s stock valued at $6,725,000 after purchasing an additional 9,952 shares in the last quarter. Citigroup Inc. increased its stake in Tidewater by 75.2% in the 3rd quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company’s stock valued at $4,193,000 after buying an additional 25,064 shares during the last quarter. Finally, Public Sector Pension Investment Board bought a new stake in Tidewater during the 2nd quarter worth about $10,171,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James lowered Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $131.00 to $102.00 in a report on Monday, November 11th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, DNB Markets assumed coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

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.