State Street Corp Sells 186,142 Shares of TETRA Technologies, Inc. (NYSE:TTI)

State Street Corp reduced its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 5.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 3,320,232 shares of the oil and gas company’s stock after selling 186,142 shares during the quarter. State Street Corp’s holdings in TETRA Technologies were worth $10,293,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TTI. Balboa Wealth Partners purchased a new stake in TETRA Technologies in the third quarter worth $33,000. Townsquare Capital LLC purchased a new position in TETRA Technologies during the 3rd quarter valued at $36,000. Point72 DIFC Ltd raised its holdings in TETRA Technologies by 82.0% in the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 5,966 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of TETRA Technologies in the 2nd quarter worth about $53,000. Finally, US Bancorp DE boosted its stake in shares of TETRA Technologies by 2,038.0% during the 3rd quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 16,875 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. D. Boral Capital reiterated a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a report on Tuesday, December 17th. Finally, StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $6.50.

TETRA Technologies Price Performance

NYSE:TTI opened at $3.53 on Friday. TETRA Technologies, Inc. has a 1 year low of $2.68 and a 1 year high of $5.08. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The firm has a market capitalization of $465.29 million, a price-to-earnings ratio of 176.59 and a beta of 2.10. The business has a 50 day simple moving average of $3.61 and a 200-day simple moving average of $3.38.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, meeting the consensus estimate of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The business had revenue of $141.70 million during the quarter, compared to analysts’ expectations of $156.43 million. During the same period in the previous year, the business posted $0.07 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. Equities analysts forecast 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.