David E. Darling Sells 25,127 Shares of Tidewater Inc. (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) COO David E. Darling sold 25,127 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $109.01, for a total value of $2,739,094.27. Following the sale, the chief operating officer now directly owns 53,114 shares in the company, valued at $5,789,957.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Tidewater Stock Down 0.2 %

Shares of Tidewater stock opened at $106.97 on Friday. The stock has a 50-day simple moving average of $92.32 and a 200-day simple moving average of $75.23. Tidewater Inc. has a 52-week low of $42.61 and a 52-week high of $111.42. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 42.62 and a beta of 1.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.74.

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

Tidewater declared that its Board of Directors has approved a share buyback plan on Thursday, February 29th that authorizes the company to buyback $48.60 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 1.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Anthracite Investment Company Inc. boosted its position in Tidewater by 4.7% during the first quarter. Anthracite Investment Company Inc. now owns 45,000 shares of the oil and gas company’s stock worth $4,140,000 after purchasing an additional 2,000 shares during the period. Lord Abbett & CO. LLC bought a new stake in shares of Tidewater during the 1st quarter worth $5,658,000. State Board of Administration of Florida Retirement System grew its stake in Tidewater by 24.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 16,871 shares of the oil and gas company’s stock valued at $1,552,000 after buying an additional 3,300 shares during the last quarter. ProShare Advisors LLC raised its holdings in Tidewater by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 8,349 shares of the oil and gas company’s stock worth $768,000 after acquiring an additional 656 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in Tidewater by 17.3% during the 1st quarter. Russell Investments Group Ltd. now owns 86,750 shares of the oil and gas company’s stock worth $7,981,000 after acquiring an additional 12,799 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on TDW. BTIG Research raised their target price on shares of Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Johnson Rice initiated coverage on shares of Tidewater in a research note on Friday, February 9th. They set a “buy” rating and a $88.00 target price on the stock. Evercore ISI lifted their price target on Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, March 4th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Pickering Energy Partners started coverage on Tidewater in a report on Tuesday, January 30th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $93.00.

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.