Tidewater (NYSE:TDW) EVP Sells 5,195 Shares

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 5,195 shares of Tidewater stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $80.56, for a total transaction 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 represents a 10.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Tidewater Stock Performance

Shares of TDW traded down $2.50 on Friday, reaching $77.78. 1,014,659 shares of the company’s stock traded hands, compared to its average volume of 811,399. The stock’s 50 day simple moving average is $64.50 and its two-hundred day simple moving average is $58.04. The stock has a market cap of $3.86 billion, a PE ratio of 11.64 and a beta of 0.57. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $88.99. The company has a current ratio of 2.90, a quick ratio of 2.79 and a debt-to-equity ratio of 0.48.

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

Analyst Upgrades and Downgrades

Several analysts have commented on TDW shares. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Evercore dropped their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday. Finally, Dawson James reissued an “outperform” rating on shares of Tidewater in a research report on Tuesday. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Tidewater presently has an average rating of “Hold” and a consensus target price of $91.00.

Institutional Investors Weigh In On Tidewater

Several institutional investors have recently made changes to their positions in the stock. Blume Capital Management Inc. grew its position in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 413 shares during the period. Parkside Financial Bank & Trust grew its stake in Tidewater by 4,245.0% during the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 849 shares in the last quarter. CWM LLC boosted its holdings in Tidewater by 83.6% in the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 422 shares during the period. Finally, Clearstead Advisors LLC grew its position in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 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.