Citadel Advisors LLC decreased its stake in shares of TETRA Technologies, Inc. (NYSE:TTI) by 77.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,156 shares of the oil and gas company’s stock after selling 64,455 shares during the period. Citadel Advisors LLC’s holdings in TETRA Technologies were worth $31,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in TETRA Technologies during the second quarter valued at approximately $26,000. Cubist Systematic Strategies LLC purchased a new stake in TETRA Technologies during the second quarter valued at approximately $35,000. Jefferies Group LLC purchased a new stake in TETRA Technologies during the second quarter valued at approximately $46,000. Tower Research Capital LLC TRC purchased a new stake in TETRA Technologies during the second quarter valued at approximately $76,000. Finally, KBC Group NV purchased a new stake in TETRA Technologies during the second quarter valued at approximately $85,000. Institutional investors own 82.73% of the company’s stock.
A number of brokerages have commented on TTI. Royal Bank of Canada reaffirmed a “hold” rating and set a $2.50 target price on shares of TETRA Technologies in a report on Sunday, August 11th. Zacks Investment Research raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, August 10th. Finally, ValuEngine raised shares of TETRA Technologies from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $3.83.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, August 8th. The oil and gas company reported ($0.02) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.02). TETRA Technologies had a negative net margin of 1.92% and a negative return on equity of 3.45%. The business had revenue of $288.80 million during the quarter, compared to analysts’ expectations of $284.15 million. During the same period in the prior year, the company earned $0.03 earnings per share. The firm’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that TETRA Technologies, Inc. will post -0.07 earnings per share for the current year.
TETRA Technologies Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids 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.
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