TETRA Technologies, Inc. (NYSE:TTI) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its stake in shares of TETRA Technologies, Inc. (NYSE:TTI) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 374,891 shares of the oil and gas company’s stock after selling 40,536 shares during the quarter. First Trust Advisors LP owned approximately 0.28% of TETRA Technologies worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. KLCM Advisors Inc. acquired a new stake in TETRA Technologies during the 4th quarter worth $36,000. HighTower Advisors LLC purchased a new position in shares of TETRA Technologies during the fourth quarter worth about $39,000. Cibc World Markets Corp acquired a new stake in shares of TETRA Technologies during the fourth quarter worth about $42,000. M&T Bank Corp purchased a new stake in shares of TETRA Technologies in the 4th quarter valued at about $53,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of TETRA Technologies in the 4th quarter valued at about $63,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

TETRA Technologies Price Performance

TETRA Technologies stock opened at $2.75 on Wednesday. The business has a 50 day simple moving average of $2.95 and a 200-day simple moving average of $3.58. TETRA Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $5.12. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The stock has a market capitalization of $365.29 million, a PE ratio of 137.32 and a beta of 1.31.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The company had revenue of $157.14 million during the quarter, compared to analysts’ expectations of $160.52 million. Equities analysts predict that TETRA Technologies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TTI. Stifel Nicolaus reduced their price objective on TETRA Technologies from $7.00 to $6.50 and set a “buy” rating for the company in a research note on Tuesday, April 15th. D. Boral Capital decreased their price target on shares of TETRA Technologies from $5.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, StockNews.com upgraded shares of TETRA Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, TETRA Technologies currently has an average rating of “Buy” and a consensus target price of $6.17.

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.