Nationwide Fund Advisors cut its position in TETRA Technologies, Inc. (NYSE:TTI) by 72.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,629 shares of the oil and gas company’s stock after selling 163,502 shares during the quarter. Nationwide Fund Advisors owned about 0.05% of TETRA Technologies worth $176,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Engineers Gate Manager LP bought a new stake in TETRA Technologies in the 2nd quarter valued at $356,000. FMR LLC boosted its stake in TETRA Technologies by 2.1% in the 2nd quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock valued at $34,199,000 after purchasing an additional 250,100 shares during the period. Vanguard Group Inc. boosted its stake in TETRA Technologies by 6.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock valued at $29,559,000 after purchasing an additional 625,816 shares during the period. California Public Employees Retirement System boosted its stake in TETRA Technologies by 33.5% in the 2nd quarter. California Public Employees Retirement System now owns 180,300 shares of the oil and gas company’s stock valued at $503,000 after purchasing an additional 45,200 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in TETRA Technologies by 8.8% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 794,841 shares of the oil and gas company’s stock valued at $2,218,000 after purchasing an additional 64,451 shares during the period. Institutional investors and hedge funds own 90.55% of the company’s stock.
TETRA Technologies, Inc. (TTI) opened at $4.34 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.38 and a debt-to-equity ratio of 1.63. TETRA Technologies, Inc. has a fifty-two week low of $1.85 and a fifty-two week high of $5.10. The company has a market capitalization of $502.95, a price-to-earnings ratio of -10.09 and a beta of 0.99.
Several analysts recently issued reports on TTI shares. ValuEngine upgraded TETRA Technologies from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 14th. Piper Jaffray Companies set a $4.00 price objective on TETRA Technologies and gave the company a “buy” rating in a report on Wednesday, October 11th. Royal Bank of Canada set a $3.00 price objective on TETRA Technologies and gave the company a “hold” rating in a report on Saturday, October 7th. JPMorgan Chase & Co. cut TETRA Technologies from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 12th. Finally, Zacks Investment Research raised TETRA Technologies from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. TETRA Technologies has an average rating of “Buy” and a consensus target price of $5.00.
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TETRA Technologies Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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