Daniel Hudson Sells 15,000 Shares of Tidewater (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $99.08, for a total value of $1,486,200.00. Following the transaction, the executive vice president owned 33,029 shares of the company’s stock, valued at approximately $3,272,513.32. The trade was a 31.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Tidewater Trading Down 6.0%

Tidewater stock traded down $6.00 during mid-day trading on Thursday, hitting $94.61. The company’s stock had a trading volume of 868,310 shares, compared to its average volume of 602,102. 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 company has a 50 day moving average of $81.38 and a 200-day moving average of $79.73. Tidewater Inc. has a one year low of $46.65 and a one year high of $101.57. The stock has a market cap of $4.71 billion, a PE ratio of 19.15 and a beta of 0.56.

Tidewater (NYSE:TDW) last released its 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). The business had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 earnings per share. On average, research analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TDW shares. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 28th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. BTIG Research upgraded Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday. Finally, Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Tidewater presently has an average rating of “Moderate Buy” and a consensus price target of $98.25.

Hedge Funds Weigh In On Tidewater

Large investors have recently bought and sold shares of the business. VELA Investment Management LLC lifted its holdings in Tidewater by 17.8% during the second quarter. VELA Investment Management LLC now owns 38,540 shares of the oil and gas company’s stock worth $2,568,000 after buying an additional 5,834 shares during the period. California State Teachers Retirement System increased its holdings in shares of Tidewater by 4,647.9% in the 2nd quarter. California State Teachers Retirement System now owns 965,535 shares of the oil and gas company’s stock valued at $64,334,000 after acquiring an additional 945,199 shares during the period. Nykredit A S bought a new position in shares of Tidewater in the 2nd quarter worth $139,000. Two Sigma Securities LLC bought a new position in shares of Tidewater in the 2nd quarter worth $299,000. Finally, Alyeska Investment Group L.P. lifted its stake in shares of Tidewater by 17.0% during the 2nd quarter. Alyeska Investment Group L.P. now owns 207,468 shares of the oil and gas company’s stock worth $13,824,000 after purchasing an additional 30,188 shares during the last quarter. Institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

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.