Daniel A. Hudson Sells 20,000 Shares of Tidewater Inc. (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel A. Hudson sold 20,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $109.00, for a total transaction of $2,180,000.00. Following the completion of the sale, the executive vice president now owns 74,542 shares of the company’s stock, valued at approximately $8,125,078. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Tidewater Stock Down 0.2 %

Shares of Tidewater stock traded down $0.17 during trading hours on Thursday, reaching $106.97. 947,101 shares of the company’s stock were exchanged, compared to its average volume of 775,740. The company has a 50 day moving average of $91.59 and a two-hundred day moving average of $75.01. 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 stock has a market cap of $5.64 billion, a P/E ratio of 42.65 and a beta of 1.21.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Thursday, May 2nd. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The company had revenue of $321.20 million during the quarter, compared to the consensus estimate of $312.05 million. During the same period in the prior year, the business posted $0.23 EPS. The company’s quarterly revenue was up 66.3% on a year-over-year basis. On average, sell-side analysts forecast that Tidewater Inc. will post 4.94 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 29th that permits the company to repurchase $48.60 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of recent analyst reports. Johnson Rice started coverage on shares of Tidewater in a research report on Friday, February 9th. They issued a “buy” rating and a $88.00 price objective for the company. Evercore ISI upped their target price on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. BTIG Research upped their target price on shares of Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Pickering Energy Partners started coverage on shares of Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating for the company. Finally, StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research note 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 company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $93.00.

Institutional Investors Weigh In On Tidewater

Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 156 shares during the last quarter. Precision Wealth Strategies LLC raised its holdings in Tidewater by 8.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 3,376 shares of the oil and gas company’s stock valued at $243,000 after acquiring an additional 264 shares during the period. Meixler Investment Management Ltd. raised its holdings in Tidewater by 1.9% in the 4th quarter. Meixler Investment Management Ltd. now owns 15,448 shares of the oil and gas company’s stock valued at $1,114,000 after acquiring an additional 284 shares during the period. Parkside Financial Bank & Trust bought a new position in Tidewater in the 4th quarter valued at about $33,000. Finally, Perigon Wealth Management LLC raised its holdings in Tidewater by 6.5% in the 3rd 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 period. 95.13% of the stock is currently owned by institutional investors and hedge funds.

About Tidewater

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.