Truist Financial Corp Lowers Position in Tetra Technologies, Inc. $TTI

Truist Financial Corp trimmed its position in shares of Tetra Technologies, Inc. (NYSE:TTI) by 59.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,068 shares of the oil and gas company’s stock after selling 134,402 shares during the quarter. Truist Financial Corp’s holdings in Tetra Technologies were worth $518,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Tetra Technologies in the 3rd quarter valued at approximately $28,000. Osaic Holdings Inc. grew its stake in Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares during the period. Catalyst Funds Management Pty Ltd bought a new position in Tetra Technologies in the second quarter worth $44,000. American Trust purchased a new position in Tetra Technologies during the second quarter valued at $49,000. Finally, Tower Research Capital LLC TRC lifted its position in Tetra Technologies by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 10,204 shares during the period. Institutional investors own 70.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TTI shares. Wall Street Zen downgraded shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Northland Securities boosted their price objective on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. CJS Securities initiated coverage on shares of Tetra Technologies in a report on Thursday, December 11th. They set an “outperform” rating and a $11.50 target price for the company. Finally, Clear Str downgraded Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $10.57 on Friday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 11.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.56 and a current ratio of 2.35. Tetra Technologies, Inc. has a one year low of $2.03 and a one year high of $12.54. The company’s 50-day moving average is $10.28 and its 200 day moving average is $7.43.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.