Principal Financial Group Inc. Cuts Stock Holdings in Tidewater Inc. (NYSE:TDW)

Principal Financial Group Inc. lowered its position in Tidewater Inc. (NYSE:TDW) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,318 shares of the oil and gas company’s stock after selling 12,028 shares during the period. Principal Financial Group Inc. owned about 0.51% of Tidewater worth $19,047,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TDW. Quarry LP purchased a new stake in Tidewater in the 2nd quarter valued at about $27,000. Hollencrest Capital Management bought a new position in shares of Tidewater in the second quarter valued at approximately $30,000. GAMMA Investing LLC increased its position in shares of Tidewater by 163.5% during the third quarter. GAMMA Investing LLC now owns 701 shares of the oil and gas company’s stock valued at $50,000 after acquiring an additional 435 shares during the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Tidewater during the third quarter worth $65,000. Finally, Headlands Technologies LLC lifted its holdings in Tidewater by 6,322.2% during the second quarter. Headlands Technologies LLC now owns 1,156 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 1,138 shares during the period. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

TDW opened at $50.85 on Friday. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 14.96 and a beta of 1.10. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. The firm has a 50-day moving average price of $53.92 and a 200-day moving average price of $75.05. Tidewater Inc. has a twelve month low of $46.50 and a twelve month high of $111.42.

Insider Activity at Tidewater

In related news, CEO Quintin Kneen bought 41,615 shares of Tidewater stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $48.06 per share, with a total value of $2,000,016.90. Following the acquisition, the chief executive officer now directly owns 176,239 shares of the company’s stock, valued at $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. DNB Markets initiated coverage on Tidewater in a research note on Friday, November 29th. They set a “buy” rating and a $70.00 target price on the stock. StockNews.com raised shares of Tidewater from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, Raymond James downgraded shares of Tidewater from a “strong-buy” rating to an “outperform” rating and reduced their target price for the company from $131.00 to $102.00 in a research report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.80.

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.