Tidewater Inc. (NYSE:TDW) EVP Sells $250,100.00 in Stock

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

Tidewater Price Performance

NYSE:TDW traded down $0.31 during mid-day trading on Friday, hitting $52.72. 602,029 shares of the company's stock traded hands, compared to its average volume of 1,056,550. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.00 and a current ratio of 2.07. The company has a market cap of $2.61 billion, a PE ratio of 15.78 and a beta of 1.08. The firm's 50 day simple moving average is $44.44 and its 200 day simple moving average is $45.63. Tidewater Inc. has a 1 year low of $31.17 and a 1 year high of $108.44.

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

Hedge Funds Weigh In On Tidewater

Several institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in Tidewater by 72.4% in the second quarter. Farther Finance Advisors LLC now owns 14,685 shares of the oil and gas company's stock valued at $677,000 after acquiring an additional 6,166 shares during the last quarter. CX Institutional raised its holdings in shares of Tidewater by 214.5% in the 2nd quarter. CX Institutional now owns 168,129 shares of the oil and gas company's stock worth $7,756,000 after purchasing an additional 114,667 shares during the period. Fermata Advisors LLC acquired a new position in shares of Tidewater in the 2nd quarter valued at about $223,000. Gallacher Capital Management LLC grew its holdings in shares of Tidewater by 112.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 12,183 shares of the oil and gas company's stock worth $562,000 after purchasing an additional 6,442 shares during the period. Finally, Salem Investment Counselors Inc. increased its position in Tidewater by 124.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 13,488 shares of the oil and gas company's stock worth $622,000 after purchasing an additional 7,474 shares in the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Tidewater Company Profile

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.