Diametric Capital LP Sells 275,657 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Diametric Capital LP cut its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 87.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,960 shares of the oil and gas company’s stock after selling 275,657 shares during the period. Diametric Capital LP’s holdings in TETRA Technologies were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TTI. Intech Investment Management LLC bought a new position in TETRA Technologies during the third quarter valued at $118,000. Charles Schwab Investment Management Inc. boosted its stake in shares of TETRA Technologies by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 994,177 shares of the oil and gas company’s stock worth $3,082,000 after purchasing an additional 26,322 shares during the period. FMR LLC grew its holdings in TETRA Technologies by 75.0% during the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 8,084 shares during the last quarter. BNP Paribas Financial Markets raised its position in TETRA Technologies by 68.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 261,217 shares of the oil and gas company’s stock worth $810,000 after purchasing an additional 106,507 shares during the period. Finally, Townsquare Capital LLC bought a new stake in TETRA Technologies in the third quarter worth about $36,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

TETRA Technologies Trading Up 3.3 %

TTI stock opened at $3.47 on Thursday. TETRA Technologies, Inc. has a 12 month low of $2.68 and a 12 month high of $5.12. The firm’s 50-day moving average is $3.89 and its 200 day moving average is $3.71. The company has a market capitalization of $459.41 million, a PE ratio of 173.59 and a beta of 2.04. 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 (NYSE:TTI) last issued its earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $134.50 million for the quarter, compared to analyst estimates of $138.96 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. On average, research analysts anticipate that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Analyst Ratings Changes

Separately, D. Boral Capital reaffirmed a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a research note on Wednesday, March 26th.

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.