TETRA Technologies, Inc. (NYSE:TTI) Holdings Lowered by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 19.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 239,590 shares of the oil and gas company’s stock after selling 57,734 shares during the quarter. Wedge Capital Management L L P NC’s holdings in TETRA Technologies were worth $858,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of TETRA Technologies by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,085 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 3,792 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of TETRA Technologies by 0.3% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 1,266,869 shares of the oil and gas company’s stock worth $3,927,000 after purchasing an additional 4,393 shares during the last quarter. Point72 DIFC Ltd grew its stake in shares of 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 during the last quarter. FMR LLC grew its stake in shares of TETRA Technologies by 75.0% in the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 8,084 shares during the last quarter. Finally, Foundry Partners LLC grew its stake in shares of TETRA Technologies by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 989,665 shares of the oil and gas company’s stock worth $3,068,000 after purchasing an additional 9,400 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TTI shares. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a “strong-buy” rating in a research note on Monday, October 21st. StockNews.com raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, D. Boral Capital reissued a “buy” rating and issued a $5.50 target price on shares of TETRA Technologies in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $6.50.

TETRA Technologies Stock Performance

TETRA Technologies stock opened at $4.91 on Tuesday. The firm’s 50 day simple moving average is $3.84 and its 200-day simple moving average is $3.46. The company has a market cap of $646.53 million, a P/E ratio of 245.37 and a beta of 2.06. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. TETRA Technologies, Inc. has a fifty-two week low of $2.68 and a fifty-two week high of $5.12.

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 analysts’ consensus estimates of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The firm’s revenue was down 6.5% on a year-over-year basis. As a group, equities 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.