Tidewater (NYSE:TDW) EVP Daniel Hudson Sells 15,000 Shares of Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 15,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total value of $1,486,200.00. Following the completion of the transaction, the executive vice president owned 33,029 shares in the company, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tidewater Stock Performance

Shares of TDW opened at $94.61 on Friday. The stock has a 50 day moving average price of $81.38 and a 200 day moving average price of $79.73. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 19.15 and a beta of 0.56. Tidewater Inc. has a 52-week low of $46.65 and a 52-week high of $101.57.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The company had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. During the same period in the previous year, the business posted $1.46 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts predict that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TDW shares. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. BTIG Research raised shares of Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday. Barclays lifted their price objective on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Finally, Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.25.

Hedge Funds Weigh In On Tidewater

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Tidewater by 22.6% in the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after purchasing an additional 4,278 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Tidewater by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after acquiring an additional 1,271 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Tidewater by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after acquiring an additional 1,931 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Tidewater by 4.1% in the second quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock valued at $370,000 after acquiring an additional 314 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Tidewater by 12.1% during the 2nd quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock worth $10,492,000 after purchasing an additional 24,609 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.