Kenneth Traub Sells 10,000 Shares of Tidewater (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) Director Kenneth Traub sold 10,000 shares of Tidewater stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the sale, the director directly owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Tidewater Stock Performance

TDW stock opened at $94.32 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. Tidewater Inc. has a 1 year low of $46.65 and a 1 year high of $101.57. The company has a market cap of $4.69 billion, a P/E ratio of 19.09 and a beta of 0.56. The stock’s fifty day moving average price is $81.93 and its 200-day moving average price is $79.83.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.03). The firm had revenue of $342.29 million for the quarter, compared to analysts’ expectations of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company posted $1.46 EPS. On average, equities analysts forecast that Tidewater Inc. will post 3.08 earnings per share for the current year.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently bought and sold shares of TDW. Inspire Investing LLC lifted its position in shares of Tidewater by 1.2% in the first quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock valued at $947,000 after acquiring an additional 131 shares in the last quarter. Baron Wealth Management LLC grew its position in shares of Tidewater by 4.5% during the second quarter. Baron Wealth Management LLC now owns 3,286 shares of the oil and gas company’s stock worth $219,000 after purchasing an additional 141 shares in the last quarter. Lido Advisors LLC raised its stake in Tidewater by 2.8% during the 4th quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock valued at $290,000 after purchasing an additional 149 shares during the period. Clearstead Advisors LLC raised its stake in Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 158 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Tidewater by 5.8% in the 2nd quarter. GAMMA Investing LLC now owns 3,015 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TDW. Weiss Ratings downgraded shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners raised shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Finally, Barclays lifted their target price on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Tidewater currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.25.

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.