Insider Selling: Tidewater (NYSE:TDW) Director Sells $990,000.00 in Stock

Tidewater Inc. (NYSE:TDW) Director Kenneth Traub sold 10,000 shares of Tidewater stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the sale, the director owned 63,521 shares in the company, valued at $6,288,579. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tidewater Stock Performance

Shares of TDW opened at $94.32 on Friday. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $101.57. The firm has a fifty day simple moving average of $81.93 and a 200 day simple moving average of $79.83. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 19.09 and a beta of 0.56. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47.

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

Hedge Funds Weigh In On Tidewater

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Tidewater during the second quarter worth approximately $503,200,000. Robotti Robert bought a new position in shares of Tidewater during the 2nd quarter worth approximately $193,652,000. State Street Corp boosted its stake in shares of Tidewater by 4.7% during the 4th quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after acquiring an additional 85,697 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Tidewater by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after acquiring an additional 86,084 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Tidewater by 11.1% during the 2nd quarter. Wellington Management Group LLP now owns 1,475,804 shares of the oil and gas company’s stock worth $98,333,000 after acquiring an additional 147,189 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TDW shares. BTIG Research upgraded Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Tuesday. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Barclays upped their price objective on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 13th. Weiss Ratings downgraded Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. One 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.25.

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.