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

Principal Financial Group Inc. lifted its holdings in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 276,113 shares of the oil and gas company's stock after buying an additional 10,795 shares during the period. Principal Financial Group Inc. owned approximately 0.53% of Tidewater worth $15,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Centiva Capital LP purchased a new position in Tidewater during the 3rd quarter worth $958,000. Hodges Capital Management Inc. increased its stake in shares of Tidewater by 103.0% during the fourth quarter. Hodges Capital Management Inc. now owns 96,650 shares of the oil and gas company's stock worth $5,288,000 after acquiring an additional 49,050 shares during the period. Raymond James & Associates raised its holdings in Tidewater by 11.9% during the third quarter. Raymond James & Associates now owns 93,682 shares of the oil and gas company's stock worth $6,725,000 after purchasing an additional 9,952 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Tidewater by 23.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 154,112 shares of the oil and gas company's stock worth $8,431,000 after purchasing an additional 29,721 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Tidewater by 75.2% in the third quarter. Citigroup Inc. now owns 58,411 shares of the oil and gas company's stock valued at $4,193,000 after purchasing an additional 25,064 shares during the period. Hedge funds and other institutional investors own 95.13% of the company's stock.

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Tidewater Price Performance

TDW stock traded down $2.96 during midday trading on Friday, hitting $45.64. 3,524,381 shares of the stock were exchanged, compared to its average volume of 1,060,635. The stock's 50-day moving average price is $53.69 and its 200-day moving average price is $61.41. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 13.42 and a beta of 1.04. Tidewater Inc. has a fifty-two week low of $43.32 and a fifty-two week high of $111.42.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TDW. DNB Markets started coverage on Tidewater in a research report on Friday, November 29th. They set a "buy" rating and a $70.00 target price on the stock. Pickering Energy Partners lowered Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI cut Tidewater from an "outperform" rating to an "in-line" rating and cut their price objective for the stock from $112.00 to $68.00 in a research report on Wednesday, January 15th. Raymond James lowered shares of Tidewater from a "strong-buy" rating to an "outperform" rating and decreased their target price for the stock from $131.00 to $102.00 in a research report on Monday, November 11th. Finally, StockNews.com upgraded shares of Tidewater from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.50.

Insider Activity

In other Tidewater news, CEO Quintin Kneen acquired 41,615 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $48.06 per share, for a total transaction of $2,000,016.90. Following the transaction, the chief executive officer now directly owns 176,239 shares of the company's stock, valued at approximately $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.33% of the company's stock.

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.