Principal Financial Group Inc. Has $19.05 Million Stock Holdings in Tidewater Inc. (NYSE:TDW)

Principal Financial Group Inc. trimmed its position in Tidewater Inc. (NYSE:TDW) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 265,318 shares of the oil and gas company’s stock after selling 12,028 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of Tidewater worth $19,047,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Tidewater by 135.4% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 153 shares during the last quarter. Quarry LP bought a new position in Tidewater in the second quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in Tidewater in the first quarter valued at approximately $28,000. Hollencrest Capital Management acquired a new stake in Tidewater during the 2nd quarter worth $30,000. Finally, Headlands Technologies LLC raised its position in shares of Tidewater by 6,322.2% during the 2nd quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock valued at $110,000 after acquiring an additional 1,138 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

Shares of NYSE TDW opened at $53.19 on Friday. The company has a fifty day moving average price of $66.53 and a 200 day moving average price of $85.85. The firm has a market cap of $2.78 billion, a PE ratio of 15.64 and a beta of 1.14. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. Tidewater Inc. has a 1-year low of $52.61 and a 1-year high of $111.42.

Tidewater announced that its board has initiated a share buyback plan on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to purchase up to 0.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

TDW has been the subject of a number of recent analyst reports. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Raymond James cut Tidewater from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $131.00 to $102.00 in a research note on Monday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Tidewater currently has an average rating of “Moderate Buy” and a consensus target price of $102.25.

Tidewater 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.