Tidewater (NYSE:TDW) EVP Daniel Hudson Sells 10,000 Shares

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $70.01, for a total transaction of $700,100.00. Following the transaction, the executive vice president owned 65,986 shares in the company, valued at $4,619,679.86. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Tidewater Stock Performance

TDW stock opened at $71.14 on Thursday. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $71.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The company has a market capitalization of $3.53 billion, a P/E ratio of 23.95 and a beta of 0.65. The business has a 50-day moving average price of $57.47 and a 200 day moving average price of $55.65.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The company had revenue of $341.11 million during the quarter, compared to the consensus estimate of $328.84 million. During the same period in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TDW. Evercore cut their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a report on Wednesday, November 12th. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Tidewater has a consensus rating of “Hold” and an average price target of $67.50.

Institutional Investors Weigh In On Tidewater

A number of large investors have recently modified their holdings of TDW. Federated Hermes Inc. acquired a new position in Tidewater during the second quarter worth about $28,199,000. Cerity Partners LLC increased its holdings in shares of Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after purchasing an additional 583,607 shares during the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new position in Tidewater during the fourth quarter worth approximately $21,922,000. American Century Companies Inc. increased its stake in shares of Tidewater by 291.8% in the 2nd quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after acquiring an additional 414,454 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Tidewater by 1,118.5% during the 2nd quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after acquiring an additional 260,395 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.