Tidewater Inc. (NYSE:TDW) CFO Samuel R. Rubio Sells 24,396 Shares

Tidewater Inc. (NYSE:TDW) CFO Samuel R. Rubio sold 24,396 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $107.39, for a total value of $2,619,886.44. Following the completion of the transaction, the chief financial officer now directly owns 64,527 shares in the company, valued at approximately $6,929,554.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Tidewater Price Performance

Shares of TDW traded down $0.17 during midday trading on Thursday, hitting $106.97. The company’s stock had a trading volume of 947,101 shares, compared to its average volume of 775,740. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Tidewater Inc. has a one year low of $42.61 and a one year high of $111.42. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 42.65 and a beta of 1.21. The company’s fifty day simple moving average is $91.59 and its two-hundred day simple moving average is $75.01.

Tidewater (NYSE:TDW) last released its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.40. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The firm had revenue of $321.20 million for the quarter, compared to analysts’ expectations of $312.05 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. As a group, equities analysts expect that Tidewater Inc. will post 4.94 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has authorized a share repurchase plan on Thursday, February 29th that authorizes the company to repurchase $48.60 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 1.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC bought a new position in Tidewater in the third quarter valued at about $1,972,000. Raymond James & Associates increased its stake in shares of Tidewater by 158.1% in the third quarter. Raymond James & Associates now owns 77,843 shares of the oil and gas company’s stock valued at $5,532,000 after buying an additional 47,686 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Tidewater during the 3rd quarter worth approximately $1,621,000. Mirae Asset Global Investments Co. Ltd. increased its position in Tidewater by 7.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,711 shares of the oil and gas company’s stock valued at $1,543,000 after acquiring an additional 1,412 shares during the period. Finally, High Ground Investment Management LLP raised its stake in shares of Tidewater by 11.7% during the third quarter. High Ground Investment Management LLP now owns 236,390 shares of the oil and gas company’s stock valued at $16,800,000 after acquiring an additional 24,708 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TDW has been the topic of a number of research reports. BTIG Research upped their price objective on Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Evercore ISI raised their price target on shares of Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Johnson Rice assumed coverage on shares of Tidewater in a report on Friday, February 9th. They issued a “buy” rating and a $88.00 price objective for the company. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a report on Monday, March 4th. Finally, Pickering Energy Partners started coverage on Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $93.00.

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.