Principal Financial Group Inc. Sells 5,206 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Principal Financial Group Inc. lessened its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI) by 30.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,754 shares of the oil and gas company’s stock after selling 5,206 shares during the period. Principal Financial Group Inc.’s holdings in TETRA Technologies were worth $36,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. US Bancorp DE lifted its holdings in shares of TETRA Technologies by 2,038.0% during the third quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after purchasing an additional 16,875 shares during the last quarter. Pullen Investment Management LLC purchased a new position in TETRA Technologies during the third quarter valued at $766,000. Stanley Laman Group Ltd. raised its stake in TETRA Technologies by 57.9% during the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock valued at $4,346,000 after buying an additional 514,054 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in TETRA Technologies by 6.9% in the third quarter. Wedge Capital Management L L P NC now owns 297,324 shares of the oil and gas company’s stock worth $922,000 after acquiring an additional 19,109 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in shares of TETRA Technologies by 30.0% in the third quarter. Inspire Investing LLC now owns 134,046 shares of the oil and gas company’s stock worth $416,000 after acquiring an additional 30,964 shares during the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

TETRA Technologies Stock Down 2.3 %

TTI stock opened at $3.87 on Wednesday. The stock has a market capitalization of $510.10 million, a P/E ratio of 193.50 and a beta of 2.04. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. TETRA Technologies, Inc. has a 1-year low of $2.68 and a 1-year high of $5.08. The business has a fifty day moving average price of $3.40 and a 200-day moving average price of $3.40.

TETRA Technologies (NYSE:TTI) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $141.70 million during the quarter, compared to analyst estimates of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. TETRA Technologies’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.07 EPS. Equities analysts forecast that TETRA Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on TTI. EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st. StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th.

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.