Principal Financial Group Inc. Sells 5,206 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Principal Financial Group Inc. cut its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 30.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,754 shares of the oil and gas company’s stock after selling 5,206 shares during the period. Principal Financial Group Inc.’s holdings in TETRA Technologies were worth $36,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TTI. HITE Hedge Asset Management LLC purchased a new position in shares of TETRA Technologies in the second quarter worth about $4,368,000. Masters Capital Management LLC increased its stake in TETRA Technologies by 70.0% in the 2nd quarter. Masters Capital Management LLC now owns 1,700,000 shares of the oil and gas company’s stock worth $5,882,000 after purchasing an additional 700,000 shares during the period. American Century Companies Inc. lifted its position in TETRA Technologies by 153.8% in the second quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock valued at $3,057,000 after purchasing an additional 535,413 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in shares of TETRA Technologies by 57.9% during the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock valued at $4,346,000 after purchasing an additional 514,054 shares during the period. Finally, Ovata Capital Management Ltd bought a new position in shares of TETRA Technologies in the second quarter worth approximately $1,730,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

TETRA Technologies Price Performance

TTI opened at $3.87 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33. The stock has a market capitalization of $510.10 million, a PE ratio of 193.50 and a beta of 2.04. The stock’s 50 day moving average price is $3.40 and its 200-day moving average price is $3.40. TETRA Technologies, Inc. has a 52-week low of $2.68 and a 52-week high of $5.08.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The business had revenue of $141.70 million for the quarter, compared to analysts’ expectations of $156.43 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TTI shares. EF Hutton Acquisition Co. I upgraded shares of TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. StockNews.com raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

TETRA Technologies Company 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.