Balboa Wealth Partners Purchases New Stake in TETRA Technologies, Inc. (NYSE:TTI)

Balboa Wealth Partners acquired a new position in TETRA Technologies, Inc. (NYSE:TTI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,774 shares of the oil and gas company’s stock, valued at approximately $33,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTI. BNP Paribas Financial Markets grew its stake in shares of TETRA Technologies by 168.1% during the 1st quarter. BNP Paribas Financial Markets now owns 250,888 shares of the oil and gas company’s stock worth $1,111,000 after acquiring an additional 157,295 shares during the period. Vanguard Group Inc. boosted its holdings in TETRA Technologies by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,609,375 shares of the oil and gas company’s stock worth $33,710,000 after buying an additional 89,099 shares during the period. HAP Trading LLC purchased a new position in TETRA Technologies in the 1st quarter valued at approximately $421,000. CANADA LIFE ASSURANCE Co raised its holdings in TETRA Technologies by 1,071.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 125,386 shares of the oil and gas company’s stock valued at $554,000 after acquiring an additional 114,683 shares during the period. Finally, Huber Capital Management LLC grew its position in shares of TETRA Technologies by 0.8% in the first quarter. Huber Capital Management LLC now owns 1,850,490 shares of the oil and gas company’s stock valued at $8,198,000 after purchasing an additional 14,196 shares in the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on TTI. EF Hutton Acquisition Co. I upgraded TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st. StockNews.com raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

TETRA Technologies Stock Performance

NYSE:TTI opened at $3.75 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The firm’s fifty day simple moving average is $3.23 and its 200 day simple moving average is $3.41. The stock has a market cap of $493.63 million, a P/E ratio of 187.34 and a beta of 2.04. TETRA Technologies, Inc. has a twelve month low of $2.68 and a twelve month high of $5.08.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. As a group, research analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.