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

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $99.08, for a total transaction of $1,486,200.00. Following the sale, the executive vice president owned 33,029 shares in the company, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tidewater Price Performance

Shares of NYSE TDW traded down $6.00 during midday trading on Thursday, reaching $94.61. The stock had a trading volume of 868,310 shares, compared to its average volume of 602,102. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. Tidewater Inc. has a 12-month low of $46.65 and a 12-month high of $101.57. The stock has a 50-day moving average of $81.38 and a 200-day moving average of $79.73. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 19.15 and a beta of 0.56.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TDW. Barclays increased their price objective on shares of Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a report on Thursday, August 13th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Weiss Ratings cut shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, BTIG Research upgraded 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $98.25.

Institutional Investors Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Tidewater in the 2nd quarter valued at approximately $503,200,000. Robotti Robert bought a new position in shares of Tidewater during the 2nd quarter valued at approximately $193,652,000. California State Teachers Retirement System raised its holdings in Tidewater by 4,647.9% during 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 buying an additional 945,199 shares during the period. Cerity Partners LLC raised its holdings in Tidewater by 104.3% during the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after buying an additional 583,607 shares during the period. Finally, Bank of America Corp DE bought a new stake in Tidewater in the second quarter worth $28,293,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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.