Samuel Rubio Sells 22,461 Shares of Tidewater (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) EVP Samuel Rubio sold 22,461 shares of Tidewater stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the completion of the transaction, the executive vice president directly owned 60,066 shares of the company’s stock, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Tidewater Trading Down 3.1%

Shares of Tidewater stock opened at $77.78 on Friday. The firm has a 50-day simple moving average of $65.05 and a two-hundred day simple moving average of $58.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.79 and a current ratio of 2.90. Tidewater Inc. has a fifty-two week low of $31.17 and a fifty-two week high of $88.99. The company has a market cap of $3.86 billion, a P/E ratio of 11.64 and a beta of 0.57.

Tidewater (NYSE:TDW) last posted its earnings results on Monday, March 2nd. The oil and gas company reported $4.41 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $3.64. Tidewater had a return on equity of 12.34% and a net margin of 24.74%.The firm had revenue of $336.80 million for the quarter, compared to analysts’ expectations of $329.39 million. During the same period last year, the firm earned $0.70 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts predict that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

A number of hedge funds have recently made changes to their positions in TDW. Blume Capital Management Inc. boosted its stake in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 295 shares during the last quarter. Hantz Financial Services Inc. raised its stake in Tidewater by 401.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 413 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Tidewater by 4,245.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 849 shares in the last quarter. CWM LLC boosted its stake in Tidewater by 83.6% during the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 422 shares during the last quarter. Finally, Clearstead Advisors LLC boosted its stake in Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TDW shares. Raymond James Financial set a $117.00 price objective on Tidewater in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Evercore cut their price target 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, Dawson James restated an “outperform” rating on shares of Tidewater in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and a consensus target price of $91.00.

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.