Connable Office Inc. purchased a new stake in shares of TETRA Technologies, Inc. (NYSE:TTI) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,385 shares of the oil and gas company’s stock, valued at approximately $29,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTI. Prescott Group Capital Management L.L.C. bought a new position in shares of TETRA Technologies during the 4th quarter valued at $5,731,000. FMR LLC lifted its holdings in shares of TETRA Technologies by 103.3% during the 4th quarter. FMR LLC now owns 2,554,461 shares of the oil and gas company’s stock valued at $4,291,000 after buying an additional 1,298,000 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of TETRA Technologies by 612.4% during the 4th quarter. Squarepoint Ops LLC now owns 433,189 shares of the oil and gas company’s stock valued at $728,000 after buying an additional 372,384 shares during the period. Boston Partners lifted its holdings in shares of TETRA Technologies by 37.3% during the 1st quarter. Boston Partners now owns 1,295,948 shares of the oil and gas company’s stock valued at $3,033,000 after buying an additional 352,188 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of TETRA Technologies by 124.5% during the 4th quarter. Deutsche Bank AG now owns 622,700 shares of the oil and gas company’s stock valued at $1,044,000 after buying an additional 345,290 shares during the period. 83.46% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently weighed in on the company. ValuEngine raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Monday, April 1st. Stifel Nicolaus set a $4.00 price target on TETRA Technologies and gave the company a “buy” rating in a report on Friday, May 10th. Zacks Investment Research raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Thursday, March 14th. Finally, Johnson Rice cut TETRA Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. TETRA Technologies currently has an average rating of “Hold” and a consensus price target of $5.60.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, May 9th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.01). TETRA Technologies had a negative return on equity of 1.68% and a negative net margin of 1.88%. The company had revenue of $243.73 million during the quarter, compared to the consensus estimate of $252.83 million. During the same period in the prior year, the business posted ($0.06) earnings per share. TETRA Technologies’s revenue for the quarter was up 22.2% compared to the same quarter last year. As a group, analysts forecast that TETRA Technologies, Inc. will post -0.03 earnings per share for the current year.
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TETRA Technologies Profile
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids 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.
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