Tidewater (NYSE:TDW) Director Kenneth Traub Sells 10,000 Shares

Tidewater Inc. (NYSE:TDW) Director Kenneth Traub sold 10,000 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the director owned 63,521 shares in the company, valued at approximately $6,288,579. The trade was a 13.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Tidewater Trading Down 6.0%

NYSE:TDW opened at $94.61 on Friday. Tidewater Inc. has a one year low of $46.65 and a one year high of $101.57. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58. The firm has a market cap of $4.71 billion, a P/E ratio of 19.15 and a beta of 0.56. The firm has a 50-day simple moving average of $81.38 and a 200-day simple moving average of $79.73.

Tidewater (NYSE:TDW) last announced its quarterly 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). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The business had revenue of $342.29 million during the quarter, compared to analysts’ expectations of $329.97 million. During the same period in the previous year, the company posted $1.46 EPS. Tidewater’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current fiscal year.

Institutional Trading of Tidewater

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Tidewater during the 2nd quarter worth $503,200,000. Robotti Robert purchased a new stake in Tidewater in the second quarter valued at about $193,652,000. California State Teachers Retirement System boosted its holdings in Tidewater by 4,647.9% in the second quarter. California State Teachers Retirement System now owns 965,535 shares of the oil and gas company’s stock worth $64,334,000 after acquiring an additional 945,199 shares in the last quarter. Cerity Partners LLC boosted its holdings in 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 worth $57,730,000 after acquiring an additional 583,607 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Tidewater during the second quarter worth about $28,293,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on TDW shares. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Barclays boosted their price target on Tidewater from $86.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 13th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Finally, BTIG Research upgraded Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $98.25.

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.