Quintin Kneen Sells 166,000 Shares of Tidewater Inc. (NYSE:TDW) Stock

Tidewater Inc. (NYSE:TDW) CEO Quintin Kneen sold 166,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $103.76, for a total value of $17,224,160.00. Following the completion of the transaction, the chief executive officer now owns 335,718 shares of the company’s stock, valued at approximately $34,834,099.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Quintin Kneen also recently made the following trade(s):

• On Tuesday, May 7th, Quintin Kneen sold 150,000 shares of Tidewater stock. The stock was sold at an average price of $109.01, for a total transaction of $16,351,500.00.

Tidewater Price Performance

TDW opened at $97.00 on Friday. Tidewater Inc. has a 52-week low of $42.62 and a 52-week high of $111.42. The company has a 50 day moving average of $99.60 and a two-hundred day moving average of $82.35. The company has a market cap of $5.12 billion, a P/E ratio of 38.65 and a beta of 1.22. 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 (NYSE:TDW) last announced its quarterly earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.40. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. The firm had revenue of $321.20 million during the quarter, compared to analysts’ expectations of $312.05 million. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 66.3% on a year-over-year basis. On average, analysts expect that Tidewater Inc. will post 4.68 earnings per share for the current year.

Tidewater announced that its Board of Directors has approved a stock repurchase 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 purchase up to 1.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently bought and sold shares of TDW. Raymond James Financial Services Advisors Inc. lifted 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 purchasing an additional 16,338 shares in the last quarter. Sheets Smith Wealth Management purchased a new position in Tidewater in the 4th quarter valued at about $510,000. Anthracite Investment Company Inc. acquired a new stake in shares of Tidewater during the fourth quarter valued at about $3,101,000. CenterBook Partners LP purchased a new stake in shares of Tidewater during the fourth quarter worth about $727,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Tidewater by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,805,483 shares of the oil and gas company’s stock valued at $130,195,000 after purchasing an additional 31,292 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. BTIG Research upped their price objective 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. Finally, Evercore ISI raised their target price 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. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $98.00.

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.