Neuberger Berman Group LLC increased its stake in shares of TETRA Technologies, Inc. (NYSE:TTI) by 5.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,123,688 shares of the oil and gas company’s stock after buying an additional 150,586 shares during the quarter. Neuberger Berman Group LLC owned about 2.70% of TETRA Technologies worth $8,934,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. Engineers Gate Manager LP acquired a new stake in shares of TETRA Technologies in the 2nd quarter valued at $356,000. FMR LLC boosted its holdings in shares of TETRA Technologies by 2.1% in the 2nd quarter. FMR LLC now owns 12,257,594 shares of the oil and gas company’s stock valued at $34,199,000 after purchasing an additional 250,100 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of TETRA Technologies by 6.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,594,952 shares of the oil and gas company’s stock valued at $29,559,000 after purchasing an additional 625,816 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of TETRA Technologies by 33.5% in the 2nd quarter. California Public Employees Retirement System now owns 180,300 shares of the oil and gas company’s stock valued at $503,000 after purchasing an additional 45,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of TETRA Technologies by 18.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,913,699 shares of the oil and gas company’s stock valued at $13,709,000 after purchasing an additional 774,482 shares in the last quarter. 90.55% of the stock is currently owned by institutional investors and hedge funds.
TTI has been the subject of a number of research reports. ValuEngine cut TETRA Technologies from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, September 7th. Royal Bank of Canada reiterated a “hold” rating on shares of TETRA Technologies in a research note on Sunday, November 12th. JPMorgan Chase & Co. cut TETRA Technologies from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 12th. Finally, Piper Jaffray Companies set a $4.00 price target on TETRA Technologies and gave the company a “buy” rating in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $4.91.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $216.36 million during the quarter, compared to analyst estimates of $218.65 million. TETRA Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. TETRA Technologies’s revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period last year, the company earned ($0.05) EPS. equities research analysts anticipate that TETRA Technologies, Inc. will post -0.14 earnings per share for the current year.
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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