Mackenzie Financial Corp Takes Position in TETRA Technologies, Inc. (NYSE:TTI)

Mackenzie Financial Corp purchased a new stake in shares of TETRA Technologies, Inc. (NYSE:TTI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 24,193 shares of the oil and gas company’s stock, valued at approximately $84,000.

Other large investors also recently modified their holdings of the company. Point72 DIFC Ltd boosted its stake in TETRA Technologies by 82.0% during the second quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 5,966 shares in the last quarter. nVerses Capital LLC purchased a new position in TETRA Technologies in the 2nd quarter worth about $53,000. Principal Financial Group Inc. grew its stake in TETRA Technologies by 15.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 2,251 shares in the last quarter. Norden Group LLC purchased a new position in TETRA Technologies during the 1st quarter valued at about $83,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in TETRA Technologies during the 1st quarter valued at about $84,000. 70.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut TETRA Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday.

TETRA Technologies Stock Down 4.6 %

TTI opened at $3.34 on Wednesday. The business has a 50 day moving average price of $3.12 and a 200 day moving average price of $3.62. TETRA Technologies, Inc. has a twelve month low of $2.68 and a twelve month high of $6.77. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.72 and a current ratio of 2.41. The firm has a market cap of $439.04 million, a P/E ratio of 20.88 and a beta of 2.04.

TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). TETRA Technologies had a return on equity of 18.84% and a net margin of 1.61%. The business had revenue of $171.94 million for the quarter, compared to analyst estimates of $180.66 million. Research analysts forecast that TETRA Technologies, Inc. will post 0.18 EPS 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.