Tidewater Inc. (NYSE:TDW) CFO Samuel R. Rubio Sells 24,396 Shares of Stock

Tidewater Inc. (NYSE:TDW) CFO Samuel R. Rubio sold 24,396 shares of Tidewater stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $107.39, for a total transaction of $2,619,886.44. Following the transaction, the chief financial officer now directly owns 64,527 shares of the company’s stock, valued at $6,929,554.53. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Tidewater Price Performance

Shares of TDW stock opened at $106.97 on Friday. Tidewater Inc. has a twelve month low of $42.61 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. The stock has a fifty day simple moving average of $92.32 and a two-hundred day simple moving average of $75.23. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 42.62 and a beta of 1.21.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. The company 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 firm’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. On average, analysts predict that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

Tidewater declared that its Board of Directors has approved a share repurchase program on Thursday, February 29th that allows the company to repurchase $48.60 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 1.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Tidewater

Hedge funds have recently bought and sold shares of the stock. Boston Partners increased its holdings in shares of Tidewater by 32,536.3% in the 4th quarter. Boston Partners now owns 2,080,236 shares of the oil and gas company’s stock valued at $149,928,000 after acquiring an additional 2,073,862 shares during the period. Vanguard Group Inc. grew its stake in Tidewater by 37.9% in the third quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock valued at $269,967,000 after purchasing an additional 1,043,804 shares during the last quarter. FMR LLC raised its holdings in Tidewater by 1,294.4% in the third quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock worth $75,682,000 after purchasing an additional 988,528 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. purchased a new stake in shares of Tidewater during the first quarter valued at about $34,898,000. Finally, Cerity Partners LLC bought a new stake in shares of Tidewater in the 4th quarter valued at about $25,322,000. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analyst Weigh In

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

About Tidewater

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.