Tidewater Inc. (NYSE:TDW) Director Sells $103,890.00 in Stock

Tidewater Inc. (NYSE:TDW) Director Darron M. Anderson sold 1,000 shares of Tidewater stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $103.89, for a total value of $103,890.00. Following the sale, the director now owns 40,447 shares of the company’s stock, valued at $4,202,038.83. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Tidewater Stock Performance

Shares of TDW traded up $0.68 on Friday, reaching $102.75. 378,360 shares of the stock traded hands, compared to its average volume of 760,179. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 40.94 and a beta of 1.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.74. Tidewater Inc. has a 12 month low of $42.62 and a 12 month high of $111.42. The stock’s 50-day moving average price is $97.31 and its 200-day moving average price is $77.98.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.49 by $0.40. The business had revenue of $321.20 million for the quarter, compared to analyst estimates of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. Tidewater’s quarterly revenue was up 66.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 EPS. Equities analysts forecast that Tidewater Inc. will post 4.68 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 1.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TDW. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Johnson Rice began coverage on Tidewater in a report on Friday, February 9th. They set a “buy” rating and a $88.00 price target for the company. Evercore ISI raised their price objective on Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Pickering Energy Partners began coverage on Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating on the stock. Finally, BTIG Research raised their price objective on Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $98.00.

Hedge Funds Weigh In On Tidewater

Large investors have recently made changes to their positions in the company. Transcendent Capital Group LLC bought a new stake in Tidewater in the first quarter valued at about $28,000. PNC Financial Services Group Inc. increased its holdings in Tidewater by 71.6% in the fourth 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 bought a new stake in Tidewater in the fourth quarter valued at about $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 purchasing an additional 1,521 shares during the last quarter. Finally, Cim LLC bought a new stake in Tidewater in the first quarter valued at about $214,000. 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.