Geode Capital Management LLC boosted its stake in shares of Tetra Technologies, Inc. (NYSE:TTI) by 13.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 910,912 shares of the oil and gas company’s stock after buying an additional 106,900 shares during the period. Geode Capital Management LLC owned about 0.79% of Tetra Technologies worth $3,707,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TTI. Karp Capital Management Corp purchased a new position in shares of Tetra Technologies during the first quarter valued at $121,000. UBS Asset Management Americas Inc. boosted its position in shares of Tetra Technologies by 96.8% in the first quarter. UBS Asset Management Americas Inc. now owns 58,849 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 28,952 shares during the last quarter. Comerica Bank boosted its position in shares of Tetra Technologies by 35.1% in the first quarter. Comerica Bank now owns 164,397 shares of the oil and gas company’s stock valued at $559,000 after buying an additional 42,721 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Tetra Technologies by 9.6% in the first quarter. Bank of New York Mellon Corp now owns 1,650,044 shares of the oil and gas company’s stock valued at $6,717,000 after buying an additional 144,630 shares during the last quarter. Finally, Princeton Alpha Management LP purchased a new position in shares of Tetra Technologies during the first quarter valued at $144,000. 93.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Tetra Technologies, Inc. (TTI) traded up 0.266% during mid-day trading on Friday, hitting $1.885. 215,465 shares of the stock traded hands. The stock has a 50 day moving average price of $2.61 and a 200-day moving average price of $3.48. Tetra Technologies, Inc. has a one year low of $1.85 and a one year high of $6.65. The company’s market cap is $218.47 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.03. The firm had revenue of $208.37 million during the quarter, compared to analyst estimates of $204.19 million. Tetra Technologies had a negative net margin of 8.27% and a negative return on equity of 9.56%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) earnings per share. On average, analysts forecast that Tetra Technologies, Inc. will post ($0.20) earnings per share for the current fiscal year.
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Several research analysts have recently weighed in on the stock. Royal Bank Of Canada set a $5.00 price target on shares of Tetra Technologies and gave the company a “hold” rating in a research report on Friday, June 16th. Morgan Stanley lowered their price target on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. BidaskClub cut shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. Finally, Zacks Investment Research cut shares of Tetra Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $5.67.
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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