Citadel Advisors LLC lessened its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 27.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,495 shares of the oil and gas company’s stock after selling 208,853 shares during the quarter. Citadel Advisors LLC owned approximately 0.48% of Tetra Technologies worth $1,598,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of TTI. Hartford Investment Management Co. purchased a new position in Tetra Technologies in the second quarter valued at $118,000. JPMorgan Chase & Co. increased its holdings in Tetra Technologies by 3,012.3% in the second quarter. JPMorgan Chase & Co. now owns 46,187 shares of the oil and gas company’s stock valued at $129,000 after buying an additional 44,703 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Tetra Technologies by 326.0% in the second quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 36,687 shares during the last quarter. GSA Capital Partners LLP increased its holdings in Tetra Technologies by 73.7% in the second quarter. GSA Capital Partners LLP now owns 57,037 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 24,198 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Tetra Technologies by 68.0% in the third quarter. BNP Paribas Arbitrage SA now owns 58,889 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 23,839 shares in the last quarter. 90.62% of the stock is currently owned by hedge funds and other institutional investors.
TTI has been the subject of several research analyst reports. Scotiabank set a $4.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Credit Suisse Group upped their price objective on shares of Tetra Technologies from $3.50 to $4.00 and gave the company an “outperform” rating in a research note on Friday, November 10th. ValuEngine downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Finally, Piper Jaffray Companies set a $4.00 price objective on shares of Tetra Technologies and gave the company a “buy” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Tetra Technologies currently has a consensus rating of “Buy” and a consensus target price of $4.73.
Tetra Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. Tetra Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The business had revenue of $216.36 million during the quarter, compared to the consensus estimate of $218.65 million. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. sell-side analysts anticipate that Tetra Technologies, Inc. will post -0.16 EPS for the current year.
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About Tetra Technologies
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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