David E. Darling Sells 25,127 Shares of Tidewater Inc. (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) COO David E. Darling sold 25,127 shares of Tidewater stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $109.01, for a total value of $2,739,094.27. Following the transaction, the chief operating officer now owns 53,114 shares in the company, valued at $5,789,957.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tidewater Stock Down 0.2 %

NYSE TDW traded down $0.17 during trading on Thursday, reaching $106.97. 947,101 shares of the company’s stock were exchanged, compared to its average volume of 775,740. The firm has a market capitalization of $5.64 billion, a PE ratio of 42.65 and a beta of 1.21. Tidewater Inc. has a fifty-two week low of $42.61 and a fifty-two week high of $111.42. The company has a current ratio of 1.81, a quick ratio of 1.74 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $91.59 and its 200-day simple moving average is $75.01.

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, topping the consensus estimate of $0.49 by $0.40. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The business had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. During the same period last year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 66.3% compared to the same quarter last year. Sell-side analysts predict that Tidewater Inc. will post 4.94 EPS for the current year.

Tidewater announced that its Board of Directors has initiated a stock buyback program on Thursday, February 29th that permits the company to buyback $48.60 million in shares. This buyback authorization permits the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on TDW shares. Pickering Energy Partners started coverage on shares of Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating for the company. BTIG Research upped their target price on Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Johnson Rice initiated coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 price target on the stock. Evercore ISI upped their price objective on shares of Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tidewater currently has a consensus rating of “Buy” and a consensus target price of $93.00.

Institutional Trading of Tidewater

A number of institutional investors have recently bought and sold shares of TDW. Boston Partners increased its position 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 worth $149,928,000 after purchasing an additional 2,073,862 shares during the last quarter. Vanguard Group Inc. increased its holdings in Tidewater by 37.9% in the third 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 during the last quarter. FMR LLC lifted its stake in Tidewater by 1,294.4% in the third quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock valued at $75,682,000 after acquiring an additional 988,528 shares during the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. bought a new stake in Tidewater in the first quarter worth approximately $34,898,000. Finally, Cerity Partners LLC acquired a new position in shares of Tidewater during the 4th quarter worth $25,322,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Company Profile

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.