Principal Financial Group Inc. Purchases 7,837 Shares of Tidewater Inc. (NYSE:TDW)

Principal Financial Group Inc. raised its stake in Tidewater Inc. (NYSE:TDW - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 283,950 shares of the oil and gas company's stock after acquiring an additional 7,837 shares during the period. Principal Financial Group Inc. owned about 0.55% of Tidewater worth $12,003,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in Tidewater by 45.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,065 shares of the oil and gas company's stock worth $58,000 after acquiring an additional 333 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Tidewater by 1.5% during the first quarter. Illinois Municipal Retirement Fund now owns 27,448 shares of the oil and gas company's stock worth $1,160,000 after purchasing an additional 405 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Tidewater by 13.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,154 shares of the oil and gas company's stock valued at $227,000 after buying an additional 479 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Tidewater by 0.9% during the 4th quarter. Russell Investments Group Ltd. now owns 55,202 shares of the oil and gas company's stock worth $3,020,000 after buying an additional 496 shares in the last quarter. Finally, Spire Wealth Management grew its holdings in Tidewater by 14.3% during the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock worth $168,000 after acquiring an additional 498 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors.

Tidewater Trading Down 4.1%

TDW stock traded down $2.16 during midday trading on Monday, reaching $50.45. The stock had a trading volume of 725,271 shares, compared to its average volume of 1,091,365. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 15.10 and a beta of 1.08. Tidewater Inc. has a twelve month low of $31.17 and a twelve month high of $108.44. The company has a quick ratio of 2.00, a current ratio of 2.07 and a debt-to-equity ratio of 0.50. The business has a fifty day simple moving average of $44.44 and a two-hundred day simple moving average of $45.56.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The oil and gas company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.59 by $0.24. Tidewater had a net margin of 12.98% and a return on equity of 15.97%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, research analysts expect that Tidewater Inc. will post 3.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TDW shares. BTIG Research downgraded shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday. Raymond James Financial dropped their price objective on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $69.33.

Insiders Place Their Bets

In related news, Director Robert Robotti purchased 15,000 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were bought at an average price of $42.05 per share, with a total value of $630,750.00. Following the purchase, the director directly owned 2,234,957 shares in the company, valued at $93,979,941.85. This trade represents a 0.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Daniel A. Hudson sold 5,000 shares of Tidewater stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $50.02, for a total value of $250,100.00. Following the sale, the executive vice president directly owned 85,986 shares of the company's stock, valued at approximately $4,301,019.72. This trade represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 25,560 shares of company stock valued at $1,074,858 in the last ninety days. Company insiders own 8.33% of the company's stock.

About Tidewater

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.