Victory Capital Management Inc. Trims Stake in TETRA Technologies, Inc. (NYSE:TTI)

Victory Capital Management Inc. decreased its position in shares of TETRA Technologies, Inc. (NYSE:TTI) by 29.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 354,399 shares of the oil and gas company’s stock after selling 146,723 shares during the period. Victory Capital Management Inc. owned about 0.27% of TETRA Technologies worth $1,226,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of TETRA Technologies in the 2nd quarter worth approximately $53,000. Principal Financial Group Inc. boosted its position in shares of TETRA Technologies by 15.4% in the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 2,251 shares in the last quarter. Norden Group LLC bought a new stake in shares of TETRA Technologies in the 1st quarter worth approximately $83,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of TETRA Technologies in the 1st quarter worth approximately $84,000. Finally, Simplicity Wealth LLC bought a new stake in shares of TETRA Technologies in the 1st quarter worth approximately $85,000. 70.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 9th.

TETRA Technologies Stock Performance

TTI stock opened at $3.10 on Friday. The stock has a market capitalization of $406.84 million, a PE ratio of 19.34 and a beta of 2.05. TETRA Technologies, Inc. has a 12-month low of $2.68 and a 12-month high of $6.77. The company has a current ratio of 2.41, a quick ratio of 1.72 and a debt-to-equity ratio of 1.17. The stock’s 50 day simple moving average is $3.24 and its 200 day simple moving average is $3.72.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings data on Wednesday, July 31st. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $171.94 million during the quarter, compared to the consensus estimate of $180.66 million. TETRA Technologies had a net margin of 1.61% and a return on equity of 18.84%. As a group, research analysts forecast that TETRA Technologies, Inc. will post 0.19 earnings per share for the current fiscal year.

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.