Tidewater (NYSE:TDW) EVP Sells $1,486,200.00 in Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the completion of the transaction, the executive vice president owned 33,029 shares of the company’s stock, valued at $3,272,513.32. This trade represents a 31.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tidewater Price Performance

Shares of NYSE: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 stock has a market cap of $4.69 billion, a price-to-earnings ratio of 19.09 and a beta of 0.56. The stock’s 50 day moving average price is $81.93 and its 200 day moving average price is $79.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47.

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 analysts’ consensus estimates of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same period in the previous year, the business posted $1.46 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. VELA Investment Management LLC boosted its position in Tidewater by 17.8% during the 2nd quarter. VELA Investment Management LLC now owns 38,540 shares of the oil and gas company’s stock worth $2,568,000 after acquiring an additional 5,834 shares during the period. California State Teachers Retirement System increased its holdings in shares of Tidewater by 4,647.9% in the 2nd quarter. California State Teachers Retirement System now owns 965,535 shares of the oil and gas company’s stock valued at $64,334,000 after purchasing an additional 945,199 shares during the period. Nykredit A S purchased a new stake in shares of Tidewater in the second quarter worth approximately $139,000. Two Sigma Securities LLC acquired a new stake in shares of Tidewater during the second quarter worth approximately $299,000. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Tidewater by 17.0% during the second quarter. Alyeska Investment Group L.P. now owns 207,468 shares of the oil and gas company’s stock worth $13,824,000 after purchasing an additional 30,188 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TDW. BTIG Research upgraded shares of Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Tuesday. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Finally, Barclays lifted their price target on shares of Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Tidewater 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.