Adirondack Research & Management Inc. cut its position in shares of TETRA Technologies, Inc. (NYSE:TTI) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 507,588 shares of the oil and gas company’s stock after selling 104,400 shares during the quarter. Adirondack Research & Management Inc. owned about 0.40% of TETRA Technologies worth $1,020,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in shares of TETRA Technologies by 28.1% during the third quarter. Russell Investments Group Ltd. now owns 5,582,412 shares of the oil and gas company’s stock worth $11,226,000 after buying an additional 1,224,630 shares during the period. Boston Partners increased its position in shares of TETRA Technologies by 44.4% during the second quarter. Boston Partners now owns 1,871,579 shares of the oil and gas company’s stock worth $3,051,000 after buying an additional 575,631 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of TETRA Technologies by 6.7% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,638,558 shares of the oil and gas company’s stock worth $2,671,000 after buying an additional 102,976 shares during the period. Northern Trust Corp increased its position in shares of TETRA Technologies by 1.9% during the second quarter. Northern Trust Corp now owns 1,601,559 shares of the oil and gas company’s stock worth $2,611,000 after buying an additional 29,216 shares during the period. Finally, RK Capital Management LLC increased its position in shares of TETRA Technologies by 3.9% during the second quarter. RK Capital Management LLC now owns 1,539,824 shares of the oil and gas company’s stock worth $2,510,000 after buying an additional 58,000 shares during the period. Institutional investors own 82.51% of the company’s stock.
NYSE:TTI opened at $1.67 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 3.07. The stock has a market capitalization of $231.07 million, a price-to-earnings ratio of -33.40 and a beta of 1.76. The firm has a fifty day simple moving average of $1.84 and a two-hundred day simple moving average of $1.79. TETRA Technologies, Inc. has a 12 month low of $1.25 and a 12 month high of $3.35.
TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results on Thursday, November 7th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The company had revenue of $245.95 million during the quarter, compared to analyst estimates of $276.47 million. TETRA Technologies had a negative return on equity of 3.45% and a negative net margin of 1.92%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. Equities analysts predict that TETRA Technologies, Inc. will post -0.07 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Sunday, November 3rd. ValuEngine upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $2.50 price objective on shares of TETRA Technologies in a research report on Sunday, August 11th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.83.
TETRA Technologies Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids 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.
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