Insider Selling: Tidewater (NYSE:TDW) EVP Sells $700,100.00 in Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $70.01, for a total transaction of $700,100.00. Following the sale, the executive vice president owned 65,986 shares in the company, valued at $4,619,679.86. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Tidewater Stock Up 3.4%

Shares of TDW stock opened at $69.86 on Friday. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $71.57. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $57.88 and a 200-day moving average of $55.85. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 23.52 and a beta of 0.65.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in Tidewater during the fourth quarter worth $105,000. Parkside Financial Bank & Trust raised its holdings in shares of Tidewater by 15.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 166 shares during the period. Marshall Wace LLP acquired a new stake in Tidewater in the 4th quarter valued at about $311,000. Inspire Advisors LLC increased its position in Tidewater by 31.1% during the fourth quarter. Inspire Advisors LLC now owns 5,114 shares of the oil and gas company’s stock worth $258,000 after buying an additional 1,212 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in Tidewater in the fourth quarter valued at approximately $347,000. 95.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TDW shares. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Evercore decreased their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research note on Wednesday, November 12th. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.50.

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.