Daniel Hudson Sells 5,195 Shares of Tidewater (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 5,195 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.56, for a total value of $418,509.20. Following the transaction, the executive vice president owned 45,971 shares of the company’s stock, valued at approximately $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Tidewater Price Performance

Shares of NYSE:TDW traded down $2.50 on Friday, hitting $77.78. The company’s stock had a trading volume of 1,014,659 shares, compared to its average volume of 811,399. The company has a market capitalization of $3.86 billion, a PE ratio of 11.64 and a beta of 0.57. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.90 and a quick ratio of 2.79. The company has a 50-day simple moving average of $64.50 and a 200 day simple moving average of $58.04. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $88.99.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, topping the consensus estimate of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The company had revenue of $336.80 million during the quarter, compared to analyst estimates of $329.39 million. During the same quarter in the previous year, the firm earned $0.70 earnings per share. Tidewater’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TDW. Evercore cut their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Raymond James Financial set a $117.00 price target on shares of Tidewater in a research report on Tuesday. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Finally, Dawson James reaffirmed an “outperform” rating on shares of Tidewater in a report on Tuesday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and a consensus target price of $91.00.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. bought a new stake in shares of Tidewater during the 2nd quarter valued at about $28,199,000. Cerity Partners LLC boosted its position in shares of Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after purchasing an additional 583,607 shares in the last quarter. Fort Washington Investment Advisors Inc. OH purchased a new stake in Tidewater in the fourth quarter worth $21,922,000. American Century Companies Inc. raised its holdings in Tidewater by 291.8% in the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after purchasing an additional 414,454 shares in the last quarter. Finally, Boston Partners raised its holdings in Tidewater by 1,118.5% in the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after purchasing an additional 260,395 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors.

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.