Adirondack Research & Management Inc. reduced its position in shares of TETRA Technologies, Inc. (NYSE:TTI) by 14.1% in the first quarter, Holdings Channel reports. The fund owned 657,388 shares of the oil and gas company’s stock after selling 107,472 shares during the quarter. Adirondack Research & Management Inc.’s holdings in TETRA Technologies were worth $1,538,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TTI. Prescott Group Capital Management L.L.C. bought a new position in shares of TETRA Technologies during the 4th quarter valued at approximately $5,731,000. FMR LLC boosted its position 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 acquiring an additional 1,298,000 shares during the last quarter. Squarepoint Ops LLC boosted its position 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 acquiring an additional 372,384 shares during the last quarter. Boston Partners boosted its position 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 acquiring an additional 352,188 shares during the last quarter. Finally, Deutsche Bank AG boosted its position 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 acquiring an additional 345,290 shares during the last quarter. Hedge funds and other institutional investors own 81.40% of the company’s stock.
TTI has been the subject of a number of research reports. Stifel Nicolaus set a $4.00 target price on TETRA Technologies and gave the company a “buy” rating in a research report on Friday, May 10th. ValuEngine upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Zacks Investment Research upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, March 14th. Finally, Johnson Rice downgraded TETRA Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $5.60.
Shares of TTI opened at $1.52 on Monday. The firm has a market capitalization of $190.93 million, a P/E ratio of -30.40 and a beta of 1.84. TETRA Technologies, Inc. has a 52-week low of $1.29 and a 52-week high of $5.11. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 2.98.
TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Thursday, May 9th. The oil and gas company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The company had revenue of $243.73 million during the quarter, compared to the consensus estimate of $252.83 million. TETRA Technologies had a negative return on equity of 1.68% and a negative net margin of 1.88%. The firm’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. On average, sell-side analysts anticipate that TETRA Technologies, Inc. will post -0.03 earnings per share for the current fiscal year.
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TETRA Technologies Company 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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