Tidewater Inc. (NYSE:TDW) Director Darron M. Anderson Sells 1,000 Shares

Tidewater Inc. (NYSE:TDW) Director Darron M. Anderson sold 1,000 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $103.89, for a total value of $103,890.00. Following the completion of the transaction, the director now owns 40,447 shares in the company, valued at approximately $4,202,038.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Tidewater Stock Performance

NYSE:TDW traded up $0.68 during mid-day trading on Friday, hitting $102.75. 378,360 shares of the company’s stock traded hands, compared to its average volume of 760,179. The firm has a 50 day moving average of $97.31 and a two-hundred day moving average of $77.98. Tidewater Inc. has a 12 month low of $42.62 and a 12 month high of $111.42. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 40.94 and a beta of 1.21. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.49 by $0.40. The firm had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The company’s revenue for the quarter was up 66.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities analysts forecast that Tidewater Inc. will post 4.68 earnings per share for the current fiscal year.

Tidewater declared that its board has approved a stock repurchase plan 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 buy up to 1.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Tidewater

Several large investors have recently added to or reduced their stakes in TDW. Boston Partners raised its holdings in 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tidewater by 37.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,798,600 shares of the oil and gas company’s stock worth $269,967,000 after buying an additional 1,043,804 shares in the last quarter. FMR LLC raised its holdings in shares of Tidewater by 1,294.4% in the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock worth $75,682,000 after buying an additional 988,528 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in shares of Tidewater in the 1st quarter worth approximately $34,898,000. Finally, Cerity Partners LLC acquired a new position in shares of Tidewater in the 4th quarter worth approximately $25,322,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TDW shares. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Evercore ISI upped their price target on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Pickering Energy Partners started coverage on Tidewater in a research note on Tuesday, January 30th. They set an “outperform” rating for the company. BTIG Research increased their target price on Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Finally, Johnson Rice started coverage on Tidewater in a research note on Friday, February 9th. They set a “buy” rating and a $88.00 target price for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $98.00.

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.