Truist Financial Corp Cuts Stake in Tetra Technologies, Inc. $TTI

Truist Financial Corp lessened its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 59.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 90,068 shares of the oil and gas company’s stock after selling 134,402 shares during the quarter. Truist Financial Corp owned 0.07% of Tetra Technologies worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in TTI. AQR Capital Management LLC grew its stake in shares of Tetra Technologies by 87.3% during the first quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 56,203 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tetra Technologies by 125.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 90,001 shares during the period. Jane Street Group LLC grew its position in Tetra Technologies by 389.7% during the 1st quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after acquiring an additional 302,793 shares during the last quarter. Inspire Investing LLC grew its position in Tetra Technologies by 13.3% during the 2nd quarter. Inspire Investing LLC now owns 115,951 shares of the oil and gas company’s stock worth $390,000 after acquiring an additional 13,645 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Tetra Technologies in the 2nd quarter worth approximately $57,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TTI. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Stifel Nicolaus increased their price target on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Wall Street Zen cut shares of Tetra Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Northland Securities upped their price objective on shares of Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies Stock Down 5.7%

Shares of Tetra Technologies stock opened at $10.57 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.56 and a debt-to-equity ratio of 0.61. The company’s fifty day simple moving average is $10.28 and its two-hundred day simple moving average is $7.43. The company has a market cap of $1.41 billion, a P/E ratio of 11.62 and a beta of 1.24. Tetra Technologies, Inc. has a 12-month low of $2.03 and a 12-month high of $12.54.

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.