Bank of America Corp DE Has $2.71 Million Stake in TETRA Technologies, Inc. (NYSE:TTI)

Bank of America Corp DE lowered its stake in shares of TETRA Technologies, Inc. (NYSE:TTI) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 756,424 shares of the oil and gas company’s stock after selling 27,367 shares during the period. Bank of America Corp DE owned about 0.57% of TETRA Technologies worth $2,708,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TTI. KLCM Advisors Inc. bought a new position in TETRA Technologies in the 4th quarter worth $36,000. HighTower Advisors LLC acquired a new position in TETRA Technologies in the fourth quarter valued at about $39,000. Aquatic Capital Management LLC acquired a new position in TETRA Technologies in the fourth quarter valued at about $40,000. Cibc World Markets Corp acquired a new position in shares of TETRA Technologies during the fourth quarter worth approximately $42,000. Finally, M&T Bank Corp bought a new stake in shares of TETRA Technologies during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

TETRA Technologies Price Performance

TTI stock opened at $2.68 on Monday. The firm has a market cap of $356.64 million, a P/E ratio of 134.07 and a beta of 1.31. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $2.75 and its two-hundred day moving average price is $3.51. TETRA Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $5.12.

TETRA Technologies (NYSE:TTI) last posted 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. The business had revenue of $157.14 million for the quarter, compared to the consensus estimate of $160.52 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. On average, analysts anticipate that TETRA Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. D. Boral Capital lowered their target price 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. Wall Street Zen cut shares of TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 9th. Finally, Stifel Nicolaus lowered their price target on shares of TETRA Technologies from $7.00 to $6.50 and set a “buy” rating on the stock in a research report on Tuesday, April 15th.

About TETRA Technologies

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.