Deerfield Management Company L.P. Series C Purchases 117,582 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Deerfield Management Company L.P. Series C lifted its position in TETRA Technologies, Inc. (NYSE:TTI) by 154.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 193,896 shares of the oil and gas company’s stock after purchasing an additional 117,582 shares during the quarter. Deerfield Management Company L.P. Series C owned 0.15% of TETRA Technologies worth $671,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Point72 DIFC Ltd grew its holdings in shares of TETRA Technologies by 82.0% in the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 5,966 shares during the last quarter. nVerses Capital LLC bought a new stake in TETRA Technologies during the 2nd quarter worth about $53,000. Principal Financial Group Inc. grew its holdings in TETRA Technologies by 15.4% during the 1st quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock worth $75,000 after acquiring an additional 2,251 shares during the last quarter. Norden Group LLC bought a new stake in TETRA Technologies during the 1st quarter worth about $83,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in TETRA Technologies during the 1st quarter worth about $84,000. Institutional investors own 70.19% of the company’s stock.

Analyst Upgrades and Downgrades

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

TETRA Technologies Stock Down 3.4 %

Shares of NYSE TTI opened at $2.85 on Friday. The firm has a market capitalization of $374.63 million, a PE ratio of 17.81 and a beta of 2.05. The company has a current ratio of 2.41, a quick ratio of 1.72 and a debt-to-equity ratio of 1.17. TETRA Technologies, Inc. has a 1 year low of $2.68 and a 1 year high of $6.77. The firm’s 50-day moving average is $3.19 and its 200-day moving average is $3.69.

TETRA Technologies (NYSE:TTI) last issued its 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 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%. Equities analysts expect that TETRA Technologies, Inc. will post 0.19 EPS for the current year.

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.