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

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

Tidewater Trading Down 1.2 %

TDW stock traded down $0.57 during trading on Monday, reaching $47.06. The company had a trading volume of 763,699 shares, compared to its average volume of 910,147. The company has a market cap of $2.46 billion, a P/E ratio of 13.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The business has a 50 day moving average of $56.95 and a 200 day moving average of $77.73. Tidewater Inc. has a 52 week low of $46.50 and a 52 week high of $111.42.

Wall Street Analyst Weigh In

TDW has been the subject of several research reports. DNB Markets initiated coverage on Tidewater in a research note on Friday, November 29th. They issued a “buy” rating and a $70.00 target price for the company. Raymond James cut shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $131.00 to $102.00 in a research note on Monday, November 11th. Finally, StockNews.com upgraded 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 assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.80.

Institutional Trading of Tidewater

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP bought a new stake in Tidewater in the 2nd quarter worth approximately $27,000. Hollencrest Capital Management bought a new stake in Tidewater during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC boosted its position in shares of Tidewater by 163.5% in the third 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 period. Northwest & Ethical Investments L.P. purchased a new position in shares of Tidewater during the 3rd quarter valued at $65,000. Finally, Headlands Technologies LLC increased its stake in Tidewater by 6,322.2% in the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,138 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.