Principal Financial Group Inc. Sells 12,028 Shares of Tidewater Inc. (NYSE:TDW)

Principal Financial Group Inc. lowered its holdings in shares of Tidewater Inc. (NYSE:TDW) by 4.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 265,318 shares of the oil and gas company’s stock after selling 12,028 shares during the quarter. Principal Financial Group Inc.’s holdings in Tidewater were worth $19,047,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. bought a new position in shares of Tidewater during the second quarter valued at about $216,000. Bank of New York Mellon Corp grew its position in Tidewater by 72.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 443,833 shares of the oil and gas company’s stock worth $42,257,000 after acquiring an additional 185,972 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in Tidewater in the 2nd quarter worth approximately $296,000. Maryland State Retirement & Pension System bought a new stake in Tidewater in the second quarter valued at approximately $1,611,000. Finally, Sage Mountain Advisors LLC boosted its stake in shares of Tidewater by 4.8% during the second quarter. Sage Mountain Advisors LLC now owns 2,636 shares of the oil and gas company’s stock valued at $251,000 after purchasing an additional 120 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Wall Street Analysts Forecast Growth

TDW has been the topic of several analyst reports. Raymond James downgraded 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 note on Monday, November 11th. DNB Markets initiated coverage on shares of Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price objective on the stock. Finally, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Tidewater presently has an average rating of “Moderate Buy” and an average price target of $95.80.

Insider Buying and Selling

In other news, CEO Quintin Kneen bought 41,615 shares of Tidewater stock in a transaction on Friday, December 13th. The shares were purchased at an average price of $48.06 per share, for a total transaction of $2,000,016.90. Following the acquisition, the chief executive officer now owns 176,239 shares of the company’s stock, valued at approximately $8,470,046.34. The trade was a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.33% of the stock is owned by insiders.

Tidewater Stock Up 1.4 %

Shares of NYSE TDW opened at $50.85 on Friday. The firm has a fifty day simple moving average of $53.92 and a two-hundred day simple moving average of $75.05. Tidewater Inc. has a 12 month low of $46.50 and a 12 month high of $111.42. The company has a current ratio of 2.29, a quick ratio of 2.19 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.66 billion, a PE ratio of 14.96 and a beta of 1.10.

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.