Principal Financial Group Inc. Lowers Stock Position in Tidewater Inc. $TDW

Principal Financial Group Inc. cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 14.3% in the third quarter, Holdings Channel.com reports. The fund owned 256,096 shares of the oil and gas company’s stock after selling 42,799 shares during the period. Principal Financial Group Inc.’s holdings in Tidewater were worth $13,658,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TDW. Royal Bank of Canada boosted its position in shares of Tidewater by 22.6% during the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 4,278 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Tidewater by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock valued at $1,227,000 after purchasing an additional 1,271 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Tidewater by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after purchasing an additional 1,931 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Tidewater by 64.5% during the second quarter. IFP Advisors Inc now owns 1,604 shares of the oil and gas company’s stock worth $74,000 after buying an additional 629 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Tidewater during the second quarter worth $200,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TDW. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Evercore cut their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Finally, Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Tidewater currently has an average rating of “Hold” and a consensus price target of $67.50.

Tidewater Trading Up 1.6%

NYSE:TDW opened at $68.70 on Wednesday. Tidewater Inc. has a 12-month low of $31.17 and a 12-month high of $69.12. The firm has a market cap of $3.40 billion, a PE ratio of 23.13 and a beta of 0.65. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $57.24 and a 200 day moving average price of $55.54.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.48). The company had revenue of $341.11 million for the quarter, compared to analysts’ expectations of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.Tidewater’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. Sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Tidewater Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.