Daniel Hudson Sells 10,000 Shares of Tidewater (NYSE:TDW) Stock

by · The Cerbat Gem

Tidewater Inc. (NYSE:TDW – Get Free Report) EVP Daniel Hudson sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $70.01, for a total transaction of $700,100.00. Following the transaction, the executive vice president owned 65,986 shares in the company, valued at approximately $4,619,679.86. This trade represents a 13.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tidewater Price Performance

Shares of TDW stock traded up $2.55 on Wednesday, reaching $71.14. The company’s stock had a trading volume of 762,887 shares, compared to its average volume of 694,506. The stock’s fifty day simple moving average is $57.47 and its 200-day simple moving average is $55.65. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $71.25. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 23.95 and a beta of 0.65.

Tidewater (NYSE:TDW – Get Free Report) last issued its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.46 by ($0.48). The firm had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 earnings per share. Analysts forecast that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tidewater

Several hedge funds have recently modified their holdings of TDW. Empowered Funds LLC acquired a new stake in shares of Tidewater in the 4th quarter valued at approximately $2,906,000. Inceptionr LLC purchased a new position in shares of Tidewater during the 4th quarter worth approximately $202,000. Capital Wealth Planning LLC acquired a new position in shares of Tidewater in the fourth quarter worth $399,000. Deutsche Bank AG lifted its holdings in Tidewater by 4.0% in the 4th quarter. Deutsche Bank AG now owns 36,346 shares of the oil and gas company’s stock valued at $1,836,000 after purchasing an additional 1,382 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd grew its stake in Tidewater by 5.6% in the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 38,000 shares of the oil and gas company’s stock worth $1,919,000 after acquiring an additional 2,000 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TDW. Dnb Nor Markets cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research upgraded shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Evercore dropped their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.50.

Check Out Our Latest Stock Report on Tidewater

About Tidewater

(Get Free Report)

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.

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