Key Points
- Tidewater EVP Samuel Rubio sold 17,705 shares for approximately $1.62 million at an average price of $91.56, reducing his holdings by 34.77% to 33,214 shares.
- Tidewater shares opened at $94.35, near their 52-week high of $95.32, while the company reported quarterly EPS of $0.43—below estimates—but revenue of $342.29 million, ahead of expectations.
- Analysts’ consensus rating remains “Hold”, with a consensus price target of $91; institutional investors and hedge funds own 95.13% of the company.
Tidewater Inc. (NYSE:TDW - Get Free Report) EVP Samuel Rubio sold 17,705 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president owned 33,214 shares in the company, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Tidewater Stock Up 3.1%
TDW opened at $94.35 on Friday. The company has a fifty day moving average of $74.53 and a two-hundred day moving average of $76.82. The stock has a market capitalization of $4.70 billion, a price-to-earnings ratio of 19.10 and a beta of 0.53. Tidewater Inc. has a fifty-two week low of $46.65 and a fifty-two week high of $95.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 3.47 and a current ratio of 3.58.
Tidewater (NYSE:TDW - Get Free Report) last posted its earnings results 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 firm had revenue of $342.29 million for the quarter, compared to analysts' expectations of $329.97 million. During the same period in the previous year, the company earned $1.46 earnings per share. The company's revenue was up .3% compared to the same quarter last year. On average, research analysts expect that Tidewater Inc. will post 3.08 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have issued reports on TDW shares. Zacks Research downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Barclays raised their price objective on Tidewater from $86.00 to $91.00 and gave the company an "equal weight" rating in a report on Thursday. Fearnley Fonds raised Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 5th. Weiss Ratings downgraded Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Finally, Pickering Energy Partners upgraded Tidewater from an "underperform" rating to a "neutral" rating in a research report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tidewater has an average rating of "Hold" and a consensus price target of $91.00.
Get Our Latest Stock Analysis on Tidewater
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in Tidewater in the 1st quarter valued at $26,000. Clearstead Advisors LLC grew its holdings in shares of 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 buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company's stock valued at $46,000 after buying an additional 870 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Tidewater in the second quarter valued at about $47,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Tidewater in the fourth quarter worth about $53,000. 95.13% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
