Samuel Rubio Sells 22,461 Shares of Tidewater (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) EVP Samuel Rubio sold 22,461 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $80.05, for a total value of $1,798,003.05. Following the completion of the sale, the executive vice president directly owned 60,066 shares of the company’s stock, valued at approximately $4,808,283.30. This trade represents a 27.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Tidewater Stock Down 3.1%

TDW stock traded down $2.50 during midday trading on Friday, reaching $77.78. The company had a trading volume of 1,014,659 shares, compared to its average volume of 811,399. The company has a 50 day moving average of $64.50 and a two-hundred day moving average of $58.04. The company has a market capitalization of $3.86 billion, a P/E ratio of 11.64 and a beta of 0.57. Tidewater Inc. has a 1 year low of $31.17 and a 1 year 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 announced its quarterly earnings results on Monday, March 2nd. The oil and gas company reported $4.41 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $329.39 million. During the same period in the previous year, the company earned $0.70 EPS. The firm’s revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Robotti Robert boosted its position in Tidewater by 3.3% during the second quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock valued at $136,154,000 after purchasing an additional 94,902 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Tidewater by 291.8% in 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 during the last quarter. River Road Asset Management LLC raised its holdings in Tidewater by 86.0% in the 2nd 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 acquiring an additional 47,049 shares during the period. VELA Investment Management LLC bought a new position in shares of Tidewater during the third quarter worth approximately $1,546,000. Finally, SummerHaven Investment Management LLC bought a new position in Tidewater during the 3rd quarter worth $855,000. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TDW shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Dawson James reissued an “outperform” rating on shares of Tidewater in a report on Tuesday. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Evercore cut their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Finally, Raymond James Financial set a $117.00 price target on shares of Tidewater in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Tidewater currently has an average 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.