Tidewater Inc. (NYSE:TDW) Director Sells $178,692.50 in Stock

Tidewater Inc. (NYSE:TDW) Director Darron M. Anderson sold 1,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $102.11, for a total transaction of $178,692.50. Following the transaction, the director now directly owns 41,447 shares in the company, valued at approximately $4,232,153.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tidewater Price Performance

TDW opened at $102.80 on Monday. The company has a fifty day simple moving average of $97.31 and a 200 day simple moving average of $78.24. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 40.96 and a beta of 1.21. Tidewater Inc. has a twelve month low of $42.62 and a twelve month high of $111.42. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59.

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

Tidewater declared that its board has approved a share buyback plan on Thursday, February 29th that authorizes the company to buyback $48.60 million in outstanding shares. This buyback authorization authorizes the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TDW. Teacher Retirement System of Texas boosted its stake in Tidewater by 30.0% during the 3rd quarter. Teacher Retirement System of Texas now owns 9,658 shares of the oil and gas company’s stock valued at $686,000 after acquiring an additional 2,229 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Tidewater by 1,364.2% during the 3rd quarter. Principal Financial Group Inc. now owns 82,187 shares of the oil and gas company’s stock valued at $5,841,000 after acquiring an additional 76,574 shares during the last quarter. NBC Securities Inc. bought a new position in Tidewater during the 3rd quarter valued at $646,000. Black Swift Group LLC boosted its stake in Tidewater by 300.0% during the 3rd quarter. Black Swift Group LLC now owns 40,000 shares of the oil and gas company’s stock valued at $2,843,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Tidewater by 1,514.0% during the 3rd quarter. Victory Capital Management Inc. now owns 258,849 shares of the oil and gas company’s stock valued at $18,396,000 after acquiring an additional 242,811 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.