Key Points
- Director Kenneth Traub sold 10,000 Tidewater shares at an average price of $99, generating $990,000 and reducing his direct holdings by 13.6% to 63,521 shares.
- Tidewater’s stock was trading down 6.0% at $94.61, while the company’s latest quarterly EPS of $0.43 missed estimates but revenue of $342.29 million exceeded expectations.
- Analysts maintain a “Moderate Buy” consensus with an average price target of $98.25; institutional investors and hedge funds own approximately 95.13% of the company.
Tidewater Inc. (NYSE:TDW - Get Free Report) Director Kenneth Traub sold 10,000 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 63,521 shares of the company's stock, valued at approximately $6,288,579. This represents a 13.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Tidewater Trading Down 6.0%
NYSE:TDW opened at $94.61 on Friday. The company has a market capitalization of $4.71 billion, a P/E ratio of 19.15 and a beta of 0.56. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. Tidewater Inc. has a 12 month low of $46.65 and a 12 month high of $101.57. The firm has a fifty day simple moving average of $81.38 and a 200-day simple moving average of $79.73.
Tidewater (NYSE:TDW - Get Free Report) last released 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). The firm had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.36%. Tidewater's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the company earned $1.46 earnings per share. On average, equities research analysts anticipate that Tidewater Inc. will post 3.08 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Fearnley Fonds upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 5th. Barclays increased their price target on shares of Tidewater from $86.00 to $91.00 and gave the stock an "equal weight" rating in a report on Thursday, August 13th. Zacks Research cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 19th. Finally, BTIG Research raised shares of Tidewater from a "neutral" rating to a "buy" rating and set a $120.00 price objective on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tidewater currently has an average rating of "Moderate Buy" and an average target price of $98.25.
Check Out Our Latest Stock Report on TDW
Hedge Funds Weigh In On Tidewater
Institutional investors and hedge funds have recently modified their holdings of the stock. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Tidewater in the 4th quarter worth about $1,953,000. Tejara Capital Ltd grew its holdings in Tidewater by 127.6% in the fourth quarter. Tejara Capital Ltd now owns 44,600 shares of the oil and gas company's stock valued at $2,253,000 after purchasing an additional 25,000 shares during the period. Bank of New York Mellon Corp grew its holdings in Tidewater by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 323,869 shares of the oil and gas company's stock valued at $27,059,000 after purchasing an additional 20,472 shares during the period. Readystate Asset Management LP purchased a new stake in shares of Tidewater in the first quarter valued at approximately $1,662,000. Finally, Robotti Robert purchased a new stake in shares of Tidewater in the second quarter valued at approximately $193,652,000. Institutional investors and hedge funds own 95.13% of the company's stock.
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
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