TETRA Technologies, Inc. (NYSE:TTI) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI) by 15.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 99,161 shares of the oil and gas company’s stock after selling 18,793 shares during the period. Raymond James & Associates owned about 0.08% of TETRA Technologies worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new position in shares of TETRA Technologies in the 4th quarter valued at about $26,000. Quantbot Technologies LP purchased a new position in TETRA Technologies during the third quarter valued at approximately $33,000. Byrne Asset Management LLC lifted its holdings in TETRA Technologies by 63.3% in the third quarter. Byrne Asset Management LLC now owns 9,800 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 3,800 shares during the period. National Bank of Canada FI purchased a new stake in TETRA Technologies in the 3rd quarter worth approximately $74,000. Finally, AXQ Capital LP acquired a new stake in shares of TETRA Technologies during the 3rd quarter worth approximately $90,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

TETRA Technologies Stock Up 2.0 %

Shares of TTI opened at $4.56 on Friday. The firm has a market cap of $598.00 million, a P/E ratio of 22.80 and a beta of 2.20. TETRA Technologies, Inc. has a 12 month low of $2.56 and a 12 month high of $6.77. The stock’s 50 day moving average is $4.32 and its two-hundred day moving average is $4.55. The company has a current ratio of 2.24, a quick ratio of 1.47 and a debt-to-equity ratio of 1.07.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $153.13 million for the quarter, compared to analysts’ expectations of $144.76 million. TETRA Technologies had a net margin of 4.12% and a return on equity of 25.28%. Analysts predict that TETRA Technologies, Inc. will post 0.23 earnings per share for the current fiscal 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.