Tidewater Inc. $TDW Holdings Boosted by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Tidewater stake by 12.1% in Q1, buying 33,037 more shares and bringing its total to 306,514 shares worth about $25.6 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 95.13% of Tidewater’s stock; several firms also added or initiated positions during the quarter.
• Tidewater’s latest results were mixed: revenue came in slightly above expectations at $326.2 million, but EPS of $0.12 badly missed the $0.75 consensus estimate. The stock was down 0.5% and analysts currently rate it a consensus Hold with an average price target of $89.33.

Principal Financial Group Inc. raised its position in shares of Tidewater Inc. (NYSE:TDW - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,514 shares of the oil and gas company's stock after purchasing an additional 33,037 shares during the quarter. Principal Financial Group Inc. owned 0.62% of Tidewater worth $25,609,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TDW. Chicago Partners Investment Group LLC acquired a new position in Tidewater during the first quarter valued at $301,000. Fifth Third Bancorp boosted its position in Tidewater by 15,298.0% during the 1st quarter. Fifth Third Bancorp now owns 53,277 shares of the oil and gas company's stock worth $4,451,000 after acquiring an additional 52,931 shares during the period. Abel Hall LLC purchased a new position in Tidewater during the 1st quarter valued at about $349,000. World Investment Advisors acquired a new position in shares of Tidewater in the 1st quarter valued at about $206,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. increased its holdings in shares of Tidewater by 631.6% in the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 282,838 shares of the oil and gas company's stock valued at $23,631,000 after purchasing an additional 244,178 shares during the period. 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. Tidewater Inc. has a 1-year low of $46.65 and a 1-year high of $93.13. The firm's fifty day simple moving average is $73.57 and its 200-day simple moving average is $73.60. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $3.75 billion, a P/E ratio of 12.63 and a beta of 0.53.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business's revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 EPS. Sell-side analysts forecast that Tidewater Inc. will post 3.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Tidewater Company 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.

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