TETRA Technologies, Inc. (NYSE:TTI) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its position in shares of TETRA Technologies, Inc. (NYSE:TTI) by 28.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,375 shares of the oil and gas company’s stock after selling 34,832 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.07% of TETRA Technologies worth $309,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in TETRA Technologies by 168.1% in the first quarter. BNP Paribas Financial Markets now owns 250,888 shares of the oil and gas company’s stock valued at $1,111,000 after purchasing an additional 157,295 shares during the period. American Century Companies Inc. grew its position in TETRA Technologies by 153.8% in the second quarter. American Century Companies Inc. now owns 883,431 shares of the oil and gas company’s stock valued at $3,057,000 after acquiring an additional 535,413 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new stake in shares of TETRA Technologies during the second quarter valued at approximately $4,368,000. Norden Group LLC acquired a new position in shares of TETRA Technologies during the first quarter worth $83,000. Finally, Foundry Partners LLC boosted its stake in shares of TETRA Technologies by 37.9% in the first quarter. Foundry Partners LLC now owns 804,350 shares of the oil and gas company’s stock valued at $3,563,000 after purchasing an additional 221,005 shares during the period. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of TETRA Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th.

TETRA Technologies Stock Performance

Shares of TTI opened at $3.45 on Monday. The firm has a market cap of $453.50 million, a price-to-earnings ratio of 43.13 and a beta of 2.04. The company has a quick ratio of 1.72, a current ratio of 2.41 and a debt-to-equity ratio of 1.17. The business’s 50 day moving average is $3.10 and its two-hundred day moving average is $3.59. TETRA Technologies, Inc. has a 52-week low of $2.68 and a 52-week high of $6.77.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings results 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 company had revenue of $171.94 million during the quarter, compared to analyst estimates of $180.66 million. TETRA Technologies had a net margin of 1.61% and a return on equity of 18.84%. Analysts forecast that TETRA Technologies, Inc. will post 0.18 EPS for the current fiscal year.

TETRA Technologies 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.