Tidewater (NYSE:TDW) EVP Sells $418,509.20 in Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 5,195 shares of Tidewater stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total value of $418,509.20. Following the transaction, the executive vice president directly owned 45,971 shares in the company, valued at approximately $3,703,423.76. This trade represents a 10.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Tidewater Price Performance

Shares of TDW opened at $77.78 on Monday. The business’s 50-day moving average is $65.05 and its 200-day moving average is $58.21. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.78. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 11.64 and a beta of 0.57. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $88.99.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, topping the consensus estimate of $0.77 by $3.64. Tidewater had a net margin of 24.74% and a return on equity of 12.34%. The business had revenue of $336.80 million during the quarter, compared to analysts’ expectations of $329.39 million. During the same period last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently made changes to their positions in TDW. Robotti Robert raised its position in Tidewater by 3.3% in the second quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock worth $136,154,000 after purchasing an additional 94,902 shares in the last quarter. American Century Companies Inc. boosted its holdings in Tidewater by 291.8% during the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock valued at $25,670,000 after purchasing an additional 414,454 shares in the last quarter. River Road Asset Management LLC boosted its holdings in Tidewater by 86.0% during the second quarter. River Road Asset Management LLC now owns 101,780 shares of the oil and gas company’s stock valued at $5,090,000 after purchasing an additional 47,049 shares in the last quarter. VELA Investment Management LLC bought a new stake in shares of Tidewater in the 3rd quarter valued at approximately $1,546,000. Finally, SummerHaven Investment Management LLC acquired a new position in shares of Tidewater in the 3rd quarter worth approximately $855,000. 95.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Evercore decreased their target price on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. Raymond James Financial set a $117.00 price target on shares of Tidewater in a report on Tuesday, March 3rd. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Tidewater currently has a consensus rating of “Hold” and an average target price of $91.00.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.