Tidewater Inc. (NYSE:TDW) Director Sells $7,506,100.00 in Stock

Tidewater Inc. (NYSE:TDW) Director Robert Robotti sold 70,000 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $107.23, for a total value of $7,506,100.00. Following the transaction, the director now owns 2,279,097 shares of the company’s stock, valued at $244,387,571.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Robert Robotti also recently made the following trade(s):

• On Friday, May 17th, Robert Robotti sold 58,493 shares of Tidewater stock. The stock was sold at an average price of $105.44, for a total transaction of $6,167,501.92.
• On Wednesday, May 15th, Robert Robotti sold 170,000 shares of Tidewater stock. The shares were sold at an average price of $107.62, for a total transaction of $18,295,400.00.
• On Wednesday, May 8th, Robert Robotti sold 1,494 shares of Tidewater stock. The stock was sold at an average price of $107.53, for a total transaction of $160,649.82.

Tidewater Trading Down 4.2 %

TDW opened at $102.53 on Thursday. Tidewater Inc. has a fifty-two week low of $42.62 and a fifty-two week high of $111.42. The company has a market cap of $5.41 billion, a price-to-earnings ratio of 40.85 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. The firm has a 50 day simple moving average of $96.67 and a 200 day simple moving average of $77.57.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.40. The business had revenue of $321.20 million for the quarter, compared to analyst estimates of $312.05 million. Tidewater had a return on equity of 16.24% and a net margin of 11.73%. The firm’s revenue was up 66.3% on a year-over-year basis. During the same period last year, the company earned $0.23 EPS. On average, sell-side analysts anticipate that Tidewater Inc. will post 4.68 earnings per share for the current year.

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

Institutional Investors Weigh In On Tidewater

Large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Tidewater by 71.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 39,145 shares of the oil and gas company’s stock worth $2,823,000 after acquiring an additional 16,338 shares in the last quarter. Sheets Smith Wealth Management bought a new position in shares of Tidewater during the fourth quarter worth about $510,000. Anthracite Investment Company Inc. acquired a new stake in Tidewater in the 4th quarter valued at approximately $3,101,000. Dimensional Fund Advisors LP boosted its position in Tidewater by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock worth $130,195,000 after acquiring an additional 31,292 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Tidewater during the 4th quarter worth approximately $25,322,000. Institutional investors own 95.13% of the company’s stock.

Analysts Set New Price Targets

TDW has been the subject of a number of recent analyst reports. Johnson Rice started coverage on Tidewater in a report on Friday, February 9th. They set a “buy” rating and a $88.00 price target for the company. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Pickering Energy Partners initiated coverage on shares of Tidewater in a research report on Tuesday, January 30th. They set an “outperform” rating on the stock. Evercore ISI raised their price objective on shares of Tidewater from $87.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Finally, BTIG Research increased their price target on shares of Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tidewater has a consensus rating of “Buy” and a consensus target price of $98.00.

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.