Principal Financial Group Inc. Buys 33,037 Shares of Tidewater Inc. $TDW

Principal Financial Group Inc. lifted its stake in Tidewater Inc. (NYSE:TDW) by 12.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 306,514 shares of the oil and gas company’s stock after buying an additional 33,037 shares during the period. Principal Financial Group Inc.’s holdings in Tidewater were worth $25,609,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. acquired a new stake in Tidewater during the first quarter valued at approximately $26,000. Clearstead Advisors LLC boosted its position in Tidewater by 22.2% in the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 870 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Tidewater during the 2nd quarter worth approximately $47,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Tidewater during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Down 0.5%

Tidewater stock opened at $75.41 on Tuesday. The stock has a market cap of $3.75 billion, a P/E ratio of 12.63 and a beta of 0.53. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. Tidewater Inc. has a twelve month low of $46.65 and a twelve month high of $93.13. The company’s 50-day moving average price is $73.57 and its two-hundred day moving average price is $73.60.

Tidewater (NYSE:TDW) last issued its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company had revenue of $326.22 million for the quarter, compared to analyst estimates of $322.83 million. During the same quarter last year, the business earned $0.83 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, analysts expect that Tidewater Inc. will post 3.52 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TDW. Pickering Energy Partners raised Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Barclays boosted their price target on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Weiss Ratings upgraded shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th. Finally, Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $89.33.

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.