Tidewater Inc. (NYSE:TDW) CFO Quinn P. Fanning sold 16,623 shares of the company’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $32.00, for a total value of $531,936.00. Following the sale, the chief financial officer now owns 153,600 shares of the company’s stock, valued at $4,915,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Shares of TDW stock traded down $0.10 on Friday, reaching $30.62. 4,723 shares of the stock were exchanged, compared to its average volume of 145,572. The company has a debt-to-equity ratio of 0.45, a quick ratio of 4.54 and a current ratio of 4.71. Tidewater Inc. has a 1-year low of $23.52 and a 1-year high of $35.98.
Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 13th. The oil and gas company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.10. The business had revenue of $105.60 million during the quarter, compared to the consensus estimate of $94.75 million. Tidewater had a negative return on equity of 119.26% and a negative net margin of 294.06%. The firm’s revenue was down 8.3% on a year-over-year basis.
Several hedge funds have recently added to or reduced their stakes in the company. American International Group Inc. boosted its position in Tidewater by 4.6% during the 2nd quarter. American International Group Inc. now owns 2,356,828 shares of the oil and gas company’s stock worth $68,183,000 after purchasing an additional 103,780 shares during the period. Third Avenue Management LLC boosted its position in Tidewater by 1.2% during the 2nd quarter. Third Avenue Management LLC now owns 2,259,154 shares of the oil and gas company’s stock worth $65,358,000 after purchasing an additional 26,106 shares during the period. Prudential Financial Inc. purchased a new stake in Tidewater during the 1st quarter worth $54,492,000. Northwestern Mutual Investment Management Company LLC boosted its position in Tidewater by 3.9% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 1,755,152 shares of the oil and gas company’s stock worth $50,215,000 after purchasing an additional 66,102 shares during the period. Finally, NYL Investors LLC purchased a new stake in Tidewater during the 1st quarter worth $28,805,000. Institutional investors and hedge funds own 83.89% of the company’s stock.
A number of research firms have recently commented on TDW. ValuEngine downgraded Tidewater from a “buy” rating to a “hold” rating in a report on Tuesday. Capital One Financial upgraded Tidewater from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 24th.
Tidewater Inc provides offshore service 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 exploration, field development, and production, 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, remotely operated vehicle (ROV) operations, and seismic and subsea support; and various specialized services, such as pipe and cable laying.
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