Principal Financial Group Inc. Cuts Stock Holdings in TETRA Technologies, Inc. (NYSE:TTI)

Principal Financial Group Inc. lowered its position in TETRA Technologies, Inc. (NYSE:TTI) by 30.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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.

A number of other large investors also recently made changes to their positions in TTI. American Century Companies Inc. lifted its holdings in TETRA Technologies by 153.8% during the second quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock worth $3,057,000 after acquiring an additional 535,413 shares during the period. Walleye Capital LLC bought a new stake in shares of TETRA Technologies during the 3rd quarter worth $418,000. Stanley Laman Group Ltd. boosted its holdings in shares of TETRA Technologies by 57.9% in the 3rd quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock worth $4,346,000 after buying an additional 514,054 shares during the last quarter. Barclays PLC grew its position in TETRA Technologies by 369.6% during the third quarter. Barclays PLC now owns 209,873 shares of the oil and gas company’s stock valued at $650,000 after buying an additional 165,184 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in TETRA Technologies during the second quarter worth about $4,368,000. 70.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. D. Boral Capital restated a “buy” rating and issued a $5.50 target price on shares of TETRA Technologies in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $6.50.

TETRA Technologies Price Performance

TTI stock opened at $3.89 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 firm has a market cap of $512.74 million, a P/E ratio of 194.60 and a beta of 2.06. The firm’s fifty day moving average is $3.71 and its 200 day moving average is $3.41. 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 data on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $141.70 million during the quarter, compared to analyst estimates of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Research analysts predict that TETRA Technologies, Inc. will post 0.15 earnings per share for the current year.

TETRA Technologies 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.