Daniel A. Hudson Sells 5,000 Shares of Tidewater Inc. (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW - Get Free Report) EVP Daniel A. Hudson sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $50.02, for a total transaction of $250,100.00. Following the completion of the sale, the executive vice president directly owned 85,986 shares in the company, valued at $4,301,019.72. This trade represents a 5.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Tidewater Price Performance

NYSE:TDW traded up $3.61 during trading hours on Tuesday, reaching $51.82. 1,755,607 shares of the company's stock were exchanged, compared to its average volume of 1,055,759. The company has a market capitalization of $2.56 billion, a P/E ratio of 15.51 and a beta of 1.08. Tidewater Inc. has a 12 month low of $31.17 and a 12 month high of $108.44. The business's 50-day simple moving average is $43.54 and its two-hundred day simple moving average is $45.55. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50.

Tidewater (NYSE:TDW - Get Free Report) last announced its earnings results on Friday, May 9th. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.24. Tidewater had a return on equity of 15.97% and a net margin of 12.98%. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. Sell-side analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its holdings in Tidewater by 336.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,588 shares of the oil and gas company's stock valued at $87,000 after buying an additional 1,224 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tidewater by 13.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 490,793 shares of the oil and gas company's stock worth $26,851,000 after acquiring an additional 56,276 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Tidewater in the fourth quarter valued at $4,347,000. AlphaQuest LLC lifted its position in shares of Tidewater by 177.4% during the fourth quarter. AlphaQuest LLC now owns 799 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 511 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of Tidewater by 16.5% during the fourth quarter. HighTower Advisors LLC now owns 16,743 shares of the oil and gas company's stock valued at $916,000 after purchasing an additional 2,366 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James Financial reduced their price target on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $69.33.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.

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