Russell Investments Group Ltd. grew its position in shares of TETRA Technologies, Inc. (NYSE:TTI) by 14.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,351,158 shares of the oil and gas company’s stock after acquiring an additional 685,697 shares during the quarter. Russell Investments Group Ltd.’s holdings in TETRA Technologies were worth $20,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTI. Energy Opportunities Capital Management LLC bought a new position in shares of TETRA Technologies during the 4th quarter valued at $100,000. Stone Ridge Asset Management LLC bought a new position in TETRA Technologies in the 4th quarter worth $107,000. Two Sigma Advisers LP bought a new position in TETRA Technologies in the 4th quarter worth $134,000. Teacher Retirement System of Texas bought a new position in TETRA Technologies in the 4th quarter worth $167,000. Finally, CNA Financial Corp bought a new position in TETRA Technologies in the 4th quarter worth $177,000. 84.38% of the stock is currently owned by hedge funds and other institutional investors.
TTI has been the topic of a number of recent research reports. TheStreet raised TETRA Technologies from a “d” rating to a “c-” rating in a report on Tuesday, May 8th. ValuEngine raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $4.20 target price (up from $4.00) on shares of TETRA Technologies in a report on Thursday, March 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. TETRA Technologies presently has a consensus rating of “Hold” and a consensus target price of $4.65.
In related news, VP Elisabeth K. Evans purchased 7,600 shares of the company’s stock in a transaction that occurred on Wednesday, March 21st. The stock was bought at an average price of $3.90 per share, for a total transaction of $29,640.00. Following the completion of the transaction, the vice president now owns 63,342 shares in the company, valued at approximately $247,033.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.60% of the company’s stock.
Shares of TETRA Technologies stock opened at $4.29 on Monday. The stock has a market cap of $538.70 million, a PE ratio of -20.43, a PEG ratio of 1.89 and a beta of 0.69. The company has a quick ratio of 2.02, a current ratio of 2.83 and a debt-to-equity ratio of 2.53. TETRA Technologies, Inc. has a twelve month low of $1.85 and a twelve month high of $4.85.
TETRA Technologies (NYSE:TTI) last issued its quarterly earnings data on Tuesday, May 8th. The oil and gas company reported ($0.06) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.01. The firm had revenue of $199.00 million during the quarter, compared to analyst estimates of $206.66 million. TETRA Technologies had a negative return on equity of 3.15% and a negative net margin of 10.59%. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) earnings per share. analysts anticipate that TETRA Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.
About TETRA Technologies
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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.
Want to see what other hedge funds are holding TTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TETRA Technologies, Inc. (NYSE:TTI).
Receive News & Ratings for TETRA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TETRA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.