Maven Securities LTD Sells 1,750,000 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Maven Securities LTD decreased its position in TETRA Technologies, Inc. (NYSE:TTI) by 59.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,171,555 shares of the oil and gas company’s stock after selling 1,750,000 shares during the quarter. Maven Securities LTD’s holdings in TETRA Technologies were worth $4,054,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Point72 DIFC Ltd lifted its position in TETRA Technologies by 82.0% during the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 5,966 shares during the period. nVerses Capital LLC acquired a new position in TETRA Technologies in the second quarter valued at approximately $53,000. Principal Financial Group Inc. boosted its stake in TETRA Technologies by 15.4% in the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 2,251 shares during the last quarter. Norden Group LLC bought a new position in TETRA Technologies in the first quarter valued at approximately $83,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in TETRA Technologies during the 1st quarter worth $84,000. Institutional investors own 70.19% of the company’s stock.

Analysts Set New Price Targets

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

TETRA Technologies Stock Up 2.3 %

Shares of NYSE:TTI opened at $3.17 on Wednesday. The company has a 50 day moving average price of $3.14 and a two-hundred day moving average price of $3.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.72 and a current ratio of 2.41. The company has a market capitalization of $416.70 million, a PE ratio of 19.81 and a beta of 2.05. TETRA Technologies, Inc. has a 52 week low of $2.68 and a 52 week high of $6.77.

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