Insider Selling: Tidewater (NYSE:TDW) EVP Sells 10,000 Shares of Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $70.01, for a total transaction of $700,100.00. Following the sale, the executive vice president owned 65,986 shares of the company’s stock, valued at approximately $4,619,679.86. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Tidewater Stock Up 3.7%

TDW stock traded up $2.55 during trading on Wednesday, reaching $71.14. The stock had a trading volume of 762,887 shares, compared to its average volume of 694,506. Tidewater Inc. has a 1-year low of $31.17 and a 1-year high of $71.25. The firm has a fifty day moving average price of $57.47 and a 200 day moving average price of $55.65. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $3.53 billion, a P/E ratio of 23.95 and a beta of 0.65.

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Evercore dropped their target price 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. Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and a consensus price target of $67.50.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Empowered Funds LLC bought a new stake in Tidewater in the fourth quarter valued at about $2,906,000. Inceptionr LLC bought a new stake in Tidewater in the 4th quarter valued at $202,000. Capital Wealth Planning LLC acquired a new stake in Tidewater in the 4th quarter valued at approximately $399,000. Deutsche Bank AG lifted its position in shares of Tidewater by 4.0% in the fourth quarter. Deutsche Bank AG now owns 36,346 shares of the oil and gas company’s stock worth $1,836,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd grew its holdings in shares of Tidewater by 5.6% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 38,000 shares of the oil and gas company’s stock valued at $1,919,000 after acquiring an additional 2,000 shares in the last quarter. 95.13% of the stock is owned by 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.