LPL Financial LLC Sells 596,175 Shares of TETRA Technologies, Inc. (NYSE:TTI)

LPL Financial LLC lessened its stake in shares of TETRA Technologies, Inc. (NYSE:TTI - Free Report) by 96.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,807 shares of the oil and gas company's stock after selling 596,175 shares during the period. LPL Financial LLC's holdings in TETRA Technologies were worth $85,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of TETRA Technologies by 0.7% during the third quarter. Geode Capital Management LLC now owns 2,728,035 shares of the oil and gas company's stock worth $8,458,000 after buying an additional 17,802 shares in the last quarter. American Century Companies Inc. raised its position in TETRA Technologies by 36.3% in the fourth quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company's stock valued at $6,210,000 after purchasing an additional 462,213 shares during the period. Charles Schwab Investment Management Inc. grew its position in TETRA Technologies by 9.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,086,670 shares of the oil and gas company's stock valued at $3,890,000 after acquiring an additional 92,493 shares in the last quarter. JPMorgan Chase & Co. boosted its position in TETRA Technologies by 233.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company's stock valued at $1,583,000 after buying an additional 357,455 shares during the period. Finally, Everett Harris & Co. CA boosted its stake in shares of TETRA Technologies by 9.3% in the 4th quarter. Everett Harris & Co. CA now owns 477,073 shares of the oil and gas company's stock valued at $1,708,000 after buying an additional 40,723 shares during the period. Hedge funds and other institutional investors own 70.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TTI shares. StockNews.com upgraded TETRA Technologies from a "hold" rating to a "buy" rating in a research report on Thursday. D. Boral Capital reduced their price objective on shares of TETRA Technologies from $5.50 to $4.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Stifel Nicolaus cut their price target on TETRA Technologies from $7.00 to $6.50 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $6.17.

TETRA Technologies Stock Down 1.3 %

NYSE:TTI traded down $0.04 during mid-day trading on Monday, reaching $2.73. The stock had a trading volume of 1,215,532 shares, compared to its average volume of 1,309,152. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The company has a market capitalization of $362.62 million, a price-to-earnings ratio of 136.32 and a beta of 1.54. TETRA Technologies, Inc. has a 1-year low of $2.03 and a 1-year high of $5.12. The stock's 50 day simple moving average is $3.00 and its two-hundred day simple moving average is $3.59.

TETRA Technologies (NYSE:TTI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The company had revenue of $157.14 million for the quarter, compared to analysts' expectations of $160.52 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. Equities analysts anticipate that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

TETRA Technologies 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.