CNA Financial Corp Sells 22,200 Shares of TETRA Technologies, Inc. (NYSE:TTI)

CNA Financial Corp trimmed its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 24.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,500 shares of the oil and gas company’s stock after selling 22,200 shares during the quarter. CNA Financial Corp owned about 0.05% of TETRA Technologies worth $138,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTI. Russell Investments Group Ltd. raised its holdings in TETRA Technologies by 28.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 5,582,412 shares of the oil and gas company’s stock worth $11,226,000 after purchasing an additional 1,224,630 shares during the last quarter. SG Americas Securities LLC raised its holdings in TETRA Technologies by 47.3% during the 2nd quarter. SG Americas Securities LLC now owns 57,148 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 18,354 shares during the last quarter. WealthTrust Axiom LLC raised its holdings in TETRA Technologies by 7.7% during the 3rd quarter. WealthTrust Axiom LLC now owns 972,354 shares of the oil and gas company’s stock worth $1,954,000 after purchasing an additional 69,600 shares during the last quarter. GSA Capital Partners LLP raised its holdings in TETRA Technologies by 203.9% during the 2nd quarter. GSA Capital Partners LLP now owns 85,496 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 57,366 shares during the last quarter. Finally, Morgan Stanley raised its holdings in TETRA Technologies by 94.7% during the 2nd quarter. Morgan Stanley now owns 746,106 shares of the oil and gas company’s stock worth $1,215,000 after purchasing an additional 362,866 shares during the last quarter. 82.63% of the stock is owned by institutional investors and hedge funds.

Shares of TTI stock opened at $1.38 on Thursday. The company has a debt-to-equity ratio of 3.31, a current ratio of 1.74 and a quick ratio of 1.07. The stock has a market cap of $182.10 million, a PE ratio of -27.60 and a beta of 1.76. The stock has a 50-day moving average of $1.80 and a 200-day moving average of $1.76. TETRA Technologies, Inc. has a one year low of $1.25 and a one year high of $2.72.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings results on Thursday, November 7th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The company had revenue of $245.95 million during the quarter, compared to the consensus estimate of $276.47 million. TETRA Technologies had a negative net margin of 2.70% and a negative return on equity of 3.75%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. As a group, research analysts anticipate that TETRA Technologies, Inc. will post -0.07 earnings per share for the current year.

Several analysts have weighed in on the company. Zacks Investment Research cut TETRA Technologies from a “hold” rating to a “strong sell” rating in a report on Saturday, November 9th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $2.50 price target on shares of TETRA Technologies in a research note on Sunday, August 11th. Finally, ValuEngine raised TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. TETRA Technologies currently has a consensus rating of “Hold” and an average target price of $3.83.

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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Institutional Ownership by Quarter for TETRA Technologies (NYSE:TTI)

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