Tidewater Inc. (NYSE:TDW) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 4.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.51% of Tidewater worth $19,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Tidal Investments LLC boosted its stake in shares of Tidewater by 8.1% in the 3rd quarter. Tidal Investments LLC now owns 3,575 shares of the oil and gas company's stock valued at $257,000 after buying an additional 267 shares during the period. Teachers Retirement System of The State of Kentucky lifted its stake in Tidewater by 30.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,000 shares of the oil and gas company's stock worth $1,220,000 after acquiring an additional 3,969 shares during the last quarter. Neo Ivy Capital Management lifted its stake in Tidewater by 22.5% in the third quarter. Neo Ivy Capital Management now owns 13,856 shares of the oil and gas company's stock worth $994,000 after acquiring an additional 2,544 shares during the last quarter. Geode Capital Management LLC grew its holdings in Tidewater by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,092,887 shares of the oil and gas company's stock worth $78,473,000 after acquiring an additional 5,713 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Tidewater by 354.2% in the 3rd quarter. Barclays PLC now owns 78,848 shares of the oil and gas company's stock valued at $5,661,000 after purchasing an additional 61,487 shares during the last quarter. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of the stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the transaction, the chief executive officer now owns 176,239 shares of the company's stock, valued at approximately $8,470,046.34. This trade represents a 30.91 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TDW has been the subject of a number of analyst reports. DNB Markets began coverage on shares of Tidewater in a research note on Friday, November 29th. They set a "buy" rating and a $70.00 target price for the company. Raymond James cut Tidewater from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, StockNews.com raised Tidewater from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $95.80.

Tidewater Stock Performance

Shares of TDW traded up $0.62 during midday trading on Friday, reaching $51.47. 858,337 shares of the stock were exchanged, compared to its average volume of 930,612. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.14 and a beta of 1.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater Inc. has a twelve month low of $46.50 and a twelve month high of $111.42. The business's 50-day moving average price is $53.92 and its 200 day moving average price is $75.05.

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.