Daniel Hudson Sells 15,000 Shares of Tidewater (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) EVP Daniel Hudson sold 15,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $77.50, for a total value of $1,162,500.00. Following the completion of the sale, the executive vice president owned 50,986 shares in the company, valued at $3,951,415. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tidewater Trading Up 7.4%

NYSE TDW traded up $5.43 on Monday, hitting $78.81. 1,567,407 shares of the stock were exchanged, compared to its average volume of 727,012. The firm has a market capitalization of $3.91 billion, a P/E ratio of 26.54 and a beta of 0.64. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $82.00. The stock has a fifty day moving average price of $59.78 and a two-hundred day moving average price of $56.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.79 and a current ratio of 2.89.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research reports. Evercore lowered their price objective 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 upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Tidewater in a report on Monday. One 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, Tidewater currently has a consensus rating of “Hold” and an average price target of $67.50.

Institutional Investors Weigh In On Tidewater

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Tidewater by 22.6% during the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock valued at $980,000 after buying an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tidewater by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after buying an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Tidewater by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after buying an additional 1,931 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Tidewater in the 2nd quarter worth $200,000. Finally, CWM LLC boosted its position in shares of Tidewater by 83.6% during the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 422 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other 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.