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

Tidewater Inc. (NYSE:TDW) Director Kenneth Traub sold 10,000 shares of the firm’s 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 sale, the director owned 63,521 shares in the company, valued at $6,288,579. This trade represents a 13.60% 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 Down 6.0%

TDW traded down $6.00 during trading on Thursday, reaching $94.61. The company had a trading volume of 868,310 shares, compared to its average volume of 602,102. The company has a market cap of $4.71 billion, a P/E ratio of 19.15 and a beta of 0.56. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $101.57. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The business’s fifty day moving average price is $81.38 and its 200 day moving average price is $79.73.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03). Tidewater had a return on equity of 5.36% and a net margin of 18.34%.The company had revenue of $342.29 million for the quarter, compared to the consensus estimate of $329.97 million. During the same period in the prior year, the company earned $1.46 EPS. The firm’s revenue was up .3% on a year-over-year basis. Equities analysts anticipate that Tidewater Inc. will post 3.08 EPS for the current year.

Institutional Investors Weigh In On Tidewater

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDW. Blue Trust Inc. acquired a new position in shares of Tidewater during the 1st quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Tidewater in the second quarter valued at about $27,000. Clearstead Advisors LLC raised its holdings in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Tidewater by 701.6% during the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after acquiring an additional 870 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Tidewater during the second quarter valued at approximately $47,000. 95.13% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TDW has been the topic of several recent research reports. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a report on Thursday, June 11th. Weiss Ratings lowered Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, July 28th. Barclays boosted their target price on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research note on Thursday, August 13th. Finally, BTIG Research raised Tidewater from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.