Stone Ridge Asset Management LLC Takes Position in TETRA Technologies, Inc. (TTI)

Stone Ridge Asset Management LLC acquired a new stake in TETRA Technologies, Inc. (NYSE:TTI) in the fourth quarter, Holdings Channel reports. The firm acquired 25,137 shares of the oil and gas company’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTI. BNP Paribas Arbitrage SA lifted its stake in 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 buying an additional 23,839 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in TETRA Technologies by 17.7% in the third quarter. Russell Investments Group Ltd. now owns 2,269,671 shares of the oil and gas company’s stock valued at $6,490,000 after buying an additional 341,617 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in TETRA Technologies by 346.2% in the third quarter. JPMorgan Chase & Co. now owns 206,100 shares of the oil and gas company’s stock valued at $602,000 after buying an additional 159,913 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in TETRA Technologies by 10.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,013,636 shares of the oil and gas company’s stock valued at $2,899,000 after buying an additional 96,023 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in TETRA Technologies by 77.2% in the third quarter. California Public Employees Retirement System now owns 319,526 shares of the oil and gas company’s stock valued at $914,000 after buying an additional 139,226 shares during the last quarter. Institutional investors own 90.00% of the company’s stock.

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In related news, VP Elisabeth K. Evans purchased 7,600 shares of the business’s stock in a transaction dated Wednesday, March 21st. The stock was acquired at an average price of $3.90 per share, for a total transaction of $29,640.00. Following the completion of the purchase, the vice president now directly owns 63,342 shares of the company’s stock, valued at $247,033.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on TTI. Zacks Investment Research cut TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Scotia Howard Weill reiterated a “sector perform” rating on shares of TETRA Technologies in a research note on Friday, January 12th. Howard Weil cut TETRA Technologies from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, January 12th. Piper Jaffray set a $5.00 price target on TETRA Technologies and gave the stock a “buy” rating in a research note on Friday, December 29th. Finally, Royal Bank of Canada set a $5.00 price target on TETRA Technologies and gave the stock a “hold” rating in a research note on Thursday, December 21st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $5.02.

TETRA Technologies stock opened at $3.31 on Monday. TETRA Technologies, Inc. has a 12 month low of $1.85 and a 12 month high of $4.54. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.95 and a quick ratio of 1.26. The company has a market cap of $383.59, a PE ratio of -15.76, a P/E/G ratio of 9.78 and a beta of 0.69.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). TETRA Technologies had a negative return on equity of 4.20% and a negative net margin of 4.76%. The company had revenue of $227.60 million for the quarter, compared to analysts’ expectations of $211.40 million. During the same quarter last year, the company earned ($0.16) EPS. TETRA Technologies’s revenue for the quarter was up 31.4% compared to the same quarter last year. sell-side analysts anticipate that TETRA Technologies, Inc. will post 0.01 EPS for the current fiscal 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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Institutional Ownership by Quarter for TETRA Technologies (NYSE:TTI)

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