Bailard Inc. lowered its position in shares of Tetra Technologies, Inc. (NYSE:TTI) by 8.8% during the 1st quarter, HoldingsChannel reports. The firm owned 207,200 shares of the oil and gas company’s stock after selling 20,000 shares during the period. Bailard Inc.’s holdings in Tetra Technologies were worth $777,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the business. Prudential Financial Inc. lifted its holdings in Tetra Technologies by 115.1% during the first quarter. Prudential Financial Inc. now owns 395,130 shares of the oil and gas company’s stock valued at $1,482,000 after purchasing an additional 211,470 shares in the last quarter. American Century Companies Inc. purchased a new position in Tetra Technologies during the first quarter valued at approximately $686,000. Mackay Shields LLC purchased a new position in Tetra Technologies during the first quarter valued at approximately $1,002,000. Comerica Bank lifted its holdings in Tetra Technologies by 7.9% during the first quarter. Comerica Bank now owns 171,309 shares of the oil and gas company’s stock valued at $629,000 after purchasing an additional 12,586 shares in the last quarter. Finally, WealthTrust Axiom LLC lifted its holdings in Tetra Technologies by 10.9% during the first quarter. WealthTrust Axiom LLC now owns 415,670 shares of the oil and gas company’s stock valued at $1,558,000 after purchasing an additional 40,770 shares in the last quarter. 90.24% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $4.20 price target (up previously from $4.00) on shares of Tetra Technologies in a report on Thursday, March 1st. ValuEngine raised shares of Tetra Technologies from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, TheStreet raised shares of Tetra Technologies from a “d” rating to a “c-” rating in a report on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Tetra Technologies has an average rating of “Hold” and an average target price of $4.65.
Tetra Technologies opened at $4.62 on Friday, MarketBeat reports. The company has a market cap of $527.29 million, a PE ratio of -22.00, a P/E/G ratio of 6.72 and a beta of 0.70. The company has a current ratio of 2.83, a quick ratio of 1.26 and a debt-to-equity ratio of 2.53. Tetra Technologies, Inc. has a 1 year low of $1.85 and a 1 year high of $4.76.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Tuesday, May 8th. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $199.00 million for the quarter, compared to analysts’ expectations of $206.66 million. Tetra Technologies had a negative net margin of 10.59% and a negative return on equity of 3.15%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) earnings per share. analysts anticipate that Tetra Technologies, Inc. will post 0.02 earnings per share for the current fiscal year.
In related news, VP Elisabeth K. Evans acquired 7,600 shares of Tetra Technologies stock in a transaction dated Wednesday, March 21st. The shares were purchased at an average price of $3.90 per share, for a total transaction of $29,640.00. Following the completion of the transaction, the vice president now directly owns 63,342 shares in the company, valued at approximately $247,033.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.60% of the company’s stock.
Tetra Technologies Company Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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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