Raymond James Financial Services Advisors Inc. Cuts Holdings in TETRA Technologies, Inc. (NYSE:TTI)

Raymond James Financial Services Advisors Inc. lessened its stake in TETRA Technologies, Inc. (NYSE:TTI) by 41.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,000 shares of the oil and gas company’s stock after selling 19,147 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in TETRA Technologies were worth $122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in TETRA Technologies by 6.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,973 shares of the oil and gas company’s stock worth $293,000 after buying an additional 2,644 shares in the last quarter. Swiss National Bank grew its stake in TETRA Technologies by 1.0% in the 3rd quarter. Swiss National Bank now owns 270,300 shares of the oil and gas company’s stock worth $1,725,000 after buying an additional 2,700 shares in the last quarter. Byrne Asset Management LLC grew its stake in TETRA Technologies by 63.3% in the 3rd quarter. Byrne Asset Management LLC now owns 9,800 shares of the oil and gas company’s stock worth $63,000 after buying an additional 3,800 shares in the last quarter. Quantbot Technologies LP purchased a new position in TETRA Technologies in the 3rd quarter worth approximately $33,000. Finally, Fortitude Family Office LLC purchased a new position in TETRA Technologies in the 4th quarter worth approximately $26,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

TETRA Technologies Trading Up 0.6 %

Shares of TTI opened at $4.48 on Friday. The firm has a market cap of $586.85 million, a price-to-earnings ratio of 22.38 and a beta of 2.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.47 and a current ratio of 2.24. TETRA Technologies, Inc. has a fifty-two week low of $2.56 and a fifty-two week high of $6.77. The firm has a 50 day moving average price of $4.30 and a 200-day moving average price of $4.56.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results on Tuesday, February 27th. 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 4.12% and a return on equity of 25.28%. The company had revenue of $153.13 million during the quarter, compared to analyst estimates of $144.76 million. As a group, equities research analysts forecast that TETRA Technologies, Inc. will post 0.23 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Northland Securities assumed coverage on shares of TETRA Technologies in a report on Tuesday, February 20th. They issued an “outperform” rating and a $6.00 price objective for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.00.

TETRA Technologies Company 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.