Great West Life Assurance Co. Can cut its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 15.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,569 shares of the oil and gas company’s stock after selling 26,379 shares during the period. Great West Life Assurance Co. Can owned about 0.13% of TETRA Technologies worth $430,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of TETRA Technologies by 3,012.3% in the second quarter. JPMorgan Chase & Co. now owns 46,187 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 44,703 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of TETRA Technologies by 326.0% in the second quarter. Cubist Systematic Strategies LLC now owns 47,942 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 36,687 shares in the last quarter. GSA Capital Partners LLP grew its holdings in shares of TETRA Technologies by 73.7% in the second quarter. GSA Capital Partners LLP now owns 57,037 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 24,198 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of TETRA Technologies by 68.0% in the third quarter. BNP Paribas Arbitrage SA now owns 58,889 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 23,839 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of TETRA Technologies by 0.3% in the second quarter. Arizona State Retirement System now owns 60,490 shares of the oil and gas company’s stock valued at $169,000 after acquiring an additional 200 shares in the last quarter. 90.55% of the stock is owned by institutional investors.
TTI has been the subject of several recent analyst reports. ValuEngine lowered TETRA Technologies from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Zacks Investment Research raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Thursday, September 7th. Royal Bank of Canada reaffirmed a “hold” rating on shares of TETRA Technologies in a report on Sunday, November 12th. JPMorgan Chase & Co. lowered TETRA Technologies from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 12th. Finally, Piper Jaffray Companies set a $4.00 target price on TETRA Technologies and gave the company a “buy” rating in a report on Wednesday, October 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. TETRA Technologies presently has an average rating of “Buy” and an average price target of $4.91.
TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. TETRA Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The business had revenue of $216.36 million during the quarter, compared to analyst estimates of $218.65 million. During the same period in the prior year, the company earned ($0.05) earnings per share. TETRA Technologies’s revenue was up 22.5% compared to the same quarter last year. equities research analysts predict that TETRA Technologies, Inc. will post -0.14 EPS for the current year.
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About TETRA Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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