Insider Selling: Tidewater Inc. (NYSE:TDW) EVP Sells 20,000 Shares of Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel A. Hudson sold 20,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $109.00, for a total transaction of $2,180,000.00. Following the completion of the transaction, the executive vice president now owns 74,542 shares in the company, valued at approximately $8,125,078. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Tidewater Price Performance

NYSE TDW opened at $106.97 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81. The business’s fifty day moving average is $92.32 and its 200 day moving average is $75.23. The company has a market capitalization of $5.64 billion, a PE ratio of 42.62 and a beta of 1.21. Tidewater Inc. has a fifty-two week low of $42.61 and a fifty-two week high of $111.42.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. The company had revenue of $321.20 million during the quarter, compared to the consensus estimate of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. During the same period in the previous year, the company posted $0.23 EPS. The firm’s revenue was up 66.3% on a year-over-year basis. Sell-side analysts predict that Tidewater Inc. will post 4.94 earnings per share for the current year.

Tidewater announced that its Board of Directors has initiated a share buyback program on Thursday, February 29th that permits the company to repurchase $48.60 million in shares. This repurchase authorization permits the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

TDW has been the topic of a number of recent analyst reports. BTIG Research increased their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Johnson Rice initiated coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 price target for the company. Evercore ISI increased their price objective on Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, Pickering Energy Partners started coverage on Tidewater in a research report on Tuesday, January 30th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $93.00.

Institutional Trading of Tidewater

Institutional investors and hedge funds have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new stake in Tidewater during the 3rd quarter valued at approximately $1,972,000. Raymond James & Associates grew its holdings in Tidewater by 158.1% during the 3rd quarter. Raymond James & Associates now owns 77,843 shares of the oil and gas company’s stock valued at $5,532,000 after buying an additional 47,686 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Tidewater during the third quarter valued at approximately $1,621,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Tidewater by 7.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,711 shares of the oil and gas company’s stock worth $1,543,000 after buying an additional 1,412 shares in the last quarter. Finally, High Ground Investment Management LLP boosted its position in shares of Tidewater by 11.7% during the third quarter. High Ground Investment Management LLP now owns 236,390 shares of the oil and gas company’s stock worth $16,800,000 after acquiring an additional 24,708 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.