Tidewater Inc. (NYSE:TDW) EVP Sells $2,180,000.00 in Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel A. Hudson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $109.00, for a total transaction of $2,180,000.00. Following the completion of the transaction, the executive vice president now directly owns 74,542 shares in the company, valued at approximately $8,125,078. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Tidewater Price Performance

Shares of Tidewater stock traded down $0.17 on Thursday, hitting $106.97. 947,101 shares of the company traded hands, compared to its average volume of 775,740. The stock has a market capitalization of $5.64 billion, a P/E ratio of 42.65 and a beta of 1.21. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81. Tidewater Inc. has a 52 week low of $42.61 and a 52 week high of $111.42. The business has a 50-day simple moving average of $91.59 and a 200 day simple moving average of $75.01.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $321.20 million for the quarter, compared to analysts’ expectations of $312.05 million. During the same quarter last year, the business posted $0.23 earnings per share. The company’s revenue for the quarter was up 66.3% compared to the same quarter last year. Research analysts expect that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 29th that allows the company to repurchase $48.60 million in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire up to 1.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

Several large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Tidewater by 71.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 156 shares during the last quarter. Precision Wealth Strategies LLC increased its position in Tidewater by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock worth $243,000 after purchasing an additional 264 shares during the last quarter. Meixler Investment Management Ltd. increased its position in Tidewater by 1.9% in the fourth quarter. Meixler Investment Management Ltd. now owns 15,448 shares of the oil and gas company’s stock worth $1,114,000 after purchasing an additional 284 shares during the last quarter. Parkside Financial Bank & Trust bought a new stake in Tidewater in the fourth quarter worth $33,000. Finally, Perigon Wealth Management LLC increased its position in Tidewater by 6.5% during the third quarter. Perigon Wealth Management LLC now owns 8,201 shares of the oil and gas company’s stock valued at $583,000 after acquiring an additional 503 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TDW. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. BTIG Research lifted their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Evercore ISI lifted their price target on shares of Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Johnson Rice began coverage on shares of Tidewater in a report on Friday, February 9th. They set a “buy” rating and a $88.00 price target on the stock. Finally, Pickering Energy Partners began coverage on shares of Tidewater in a report on Tuesday, January 30th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tidewater presently has a consensus rating of “Buy” and an average target price of $93.00.

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.