Tidewater Inc. (NYSE:TDW) Director Kenneth Traub Sells 20,000 Shares

Tidewater Inc. (NYSE:TDW) Director Kenneth Traub sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the director now directly owns 68,802 shares in the company, valued at $7,319,156.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Tidewater Price Performance

Shares of Tidewater stock opened at $104.04 on Friday. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 41.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.74 and a current ratio of 1.81. The stock has a 50 day moving average price of $99.64 and a 200-day moving average price of $82.08. Tidewater Inc. has a one year low of $42.62 and a one year high of $111.42.

Tidewater (NYSE:TDW) last announced its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.40. The business had revenue of $321.20 million during the quarter, compared to analyst estimates of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The company’s revenue for the quarter was up 66.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. Equities analysts expect that Tidewater Inc. will post 4.68 EPS for the current year.

Tidewater declared that its board has approved a stock repurchase program on Thursday, February 29th that permits the company to buyback $48.60 million in outstanding shares. This buyback authorization permits the oil and gas company to purchase up to 1.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Tidewater

A number of hedge funds have recently added to or reduced their stakes in TDW. Vanguard Group Inc. lifted its holdings in Tidewater by 25.7% during the first quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock worth $442,956,000 after buying an additional 985,398 shares during the period. Boston Partners raised its stake in shares of Tidewater by 11.7% during the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock worth $214,055,000 after acquiring an additional 243,489 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Tidewater by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock valued at $130,195,000 after acquiring an additional 31,292 shares in the last quarter. FMR LLC lifted its holdings in shares of Tidewater by 1,294.4% during the 3rd quarter. FMR LLC now owns 1,064,896 shares of the oil and gas company’s stock valued at $75,682,000 after purchasing an additional 988,528 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Tidewater by 2.6% in the 3rd quarter. Loomis Sayles & Co. L P now owns 635,763 shares of the oil and gas company’s stock worth $45,183,000 after purchasing an additional 16,102 shares in the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TDW has been the topic of several recent research reports. Evercore ISI raised their price objective on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Finally, BTIG Research lifted their price target on shares of Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a report on Friday, May 10th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $98.00.

Tidewater Company Profile

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.