Diametric Capital LP Cuts Stock Position in TETRA Technologies, Inc. (NYSE:TTI)

Diametric Capital LP cut its position in TETRA Technologies, Inc. (NYSE:TTI) by 87.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 38,960 shares of the oil and gas company’s stock after selling 275,657 shares during the quarter. Diametric Capital LP’s holdings in TETRA Technologies were worth $139,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new stake in TETRA Technologies in the third quarter valued at approximately $2,546,000. American Century Companies Inc. raised its stake in TETRA Technologies by 36.3% in the fourth quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company’s stock valued at $6,210,000 after buying an additional 462,213 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in TETRA Technologies by 233.2% in the third quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company’s stock worth $1,583,000 after acquiring an additional 357,455 shares in the last quarter. Norges Bank purchased a new stake in shares of TETRA Technologies during the fourth quarter worth about $812,000. Finally, Stifel Financial Corp increased its holdings in shares of TETRA Technologies by 703.0% during the third quarter. Stifel Financial Corp now owns 216,439 shares of the oil and gas company’s stock valued at $671,000 after acquiring an additional 189,484 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, D. Boral Capital reissued a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a research report on Wednesday, March 26th.

TETRA Technologies Trading Up 3.3 %

TETRA Technologies stock opened at $3.47 on Thursday. The stock has a 50-day moving average price of $3.89 and a 200 day moving average price of $3.71. The company has a market capitalization of $459.41 million, a price-to-earnings ratio of 173.59 and a beta of 2.04. TETRA Technologies, Inc. has a 52 week low of $2.68 and a 52 week high of $5.12. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $138.96 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. Sell-side analysts anticipate that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

TETRA Technologies Profile

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.