Key Points
- EVP Daniel Hudson sold 10,000 shares of Tidewater on Feb. 11 at an average price of $70.01 for roughly $700,100, cutting his stake by 13.16% to 65,986 shares, as disclosed in an SEC filing.
- TDW shares trade near a 52-week high (opened $71.14; 52‑week high $71.25) with a market cap of about $3.53 billion, a P/E of ~23.95, and 50/200‑day moving averages of $57.47/$55.65.
- Recent results disappointed on EPS (reported $(0.02) vs. $0.46 expected) despite slightly higher revenue, while institutional investors own ~95.13% of the stock and analysts' consensus is a "Hold" with an average target of $67.50.
Tidewater Inc. (NYSE:TDW - Get Free Report) EVP Daniel Hudson sold 10,000 shares of Tidewater 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 sale, the executive vice president directly owned 65,986 shares in the company, valued at approximately $4,619,679.86. The trade was a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Tidewater Price Performance
TDW stock opened at $71.14 on Thursday. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 23.95 and a beta of 0.65. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. Tidewater Inc. has a 52-week low of $31.17 and a 52-week high of $71.25. The business has a fifty day moving average of $57.47 and a two-hundred day moving average of $55.65.
Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The business had revenue of $341.11 million for the quarter, compared to analyst estimates of $328.84 million. During the same period in the previous year, the business posted $0.87 earnings per share. The firm's revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.
Institutional Trading of Tidewater
Hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in shares of Tidewater in the 2nd quarter valued at about $28,199,000. Cerity Partners LLC lifted its holdings in shares of Tidewater by 104.3% in the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company's stock valued at $57,730,000 after buying an additional 583,607 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Tidewater in the fourth quarter valued at approximately $21,922,000. American Century Companies Inc. raised its position in Tidewater by 291.8% in the second quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company's stock worth $25,670,000 after acquiring an additional 414,454 shares in the last quarter. Finally, Boston Partners lifted its holdings in Tidewater by 1,118.5% in the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company's stock valued at $14,089,000 after acquiring an additional 260,395 shares during the period. 95.13% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on TDW shares. Zacks Research upgraded shares of Tidewater from a "strong sell" rating to a "hold" rating in a report on Monday, January 12th. Evercore decreased their price target on Tidewater from $67.00 to $65.00 and set an "in-line" rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tidewater in a report on Monday, December 29th. Finally, Dnb Nor Markets downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of "Hold" and an average target price of $67.50.
Check Out Our Latest Report on TDW
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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