Tidewater Inc. (NYSE:TDW) CFO Samuel R. Rubio Sells 24,396 Shares

Tidewater Inc. (NYSE:TDW) CFO Samuel R. Rubio sold 24,396 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $107.39, for a total value of $2,619,886.44. Following the sale, the chief financial officer now directly owns 64,527 shares of the company’s stock, valued at $6,929,554.53. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Tidewater Stock Performance

NYSE:TDW opened at $106.97 on Friday. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 42.62 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Tidewater Inc. has a 52 week low of $42.61 and a 52 week high of $111.42. The company has a fifty day simple moving average of $92.32 and a two-hundred day simple moving average of $75.23.

Tidewater (NYSE:TDW) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.49 by $0.40. The firm had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. Tidewater’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. As a group, equities analysts anticipate that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

Tidewater announced that its board has authorized a share buyback program on Thursday, February 29th that permits the company to buyback $48.60 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

TDW has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Evercore ISI boosted their target price on Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Johnson Rice initiated coverage on Tidewater in a research note on Friday, February 9th. They set a “buy” rating and a $88.00 price target on the stock. Pickering Energy Partners assumed coverage on Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating for the company. Finally, BTIG Research increased their target price on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tidewater presently has an average rating of “Buy” and an average target price of $93.00.

Institutional Trading of Tidewater

Hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the last quarter. Parkside Financial Bank & Trust purchased a new position in Tidewater in the fourth quarter valued at $33,000. Spire Wealth Management increased its holdings in Tidewater by 608.4% in the fourth quarter. Spire Wealth Management now owns 1,771 shares of the oil and gas company’s stock valued at $121,000 after buying an additional 1,521 shares during the last quarter. Xponance Inc. acquired a new stake in Tidewater in the fourth quarter valued at $204,000. Finally, Private Advisor Group LLC purchased a new stake in Tidewater during the 4th quarter worth about $210,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

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.