Russell Investments Group Ltd. increased its position in Tetra Technologies, Inc. (NYSE:TTI) by 28.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,915,550 shares of the oil and gas company’s stock after buying an additional 425,840 shares during the period. Russell Investments Group Ltd. owned 1.66% of Tetra Technologies worth $7,796,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Empyrean Capital Partners LP acquired a new stake in Tetra Technologies during the fourth quarter worth $3,359,000. Norges Bank purchased a new position in shares of Tetra Technologies during the fourth quarter valued at approximately $15,354,000. FMR LLC raised its position in shares of Tetra Technologies by 111.3% in the fourth quarter. FMR LLC now owns 5,793,798 shares of the oil and gas company’s stock valued at $29,085,000 after buying an additional 3,051,513 shares in the last quarter. Bank of Montreal Can raised its position in shares of Tetra Technologies by 148.8% in the first quarter. Bank of Montreal Can now owns 163,984 shares of the oil and gas company’s stock valued at $667,000 after buying an additional 98,067 shares in the last quarter. Finally, BlackRock Fund Advisors raised its position in shares of Tetra Technologies by 13.5% in the third quarter. BlackRock Fund Advisors now owns 6,864,662 shares of the oil and gas company’s stock valued at $41,943,000 after buying an additional 818,153 shares in the last quarter. Institutional investors own 93.73% of the company’s stock.
Shares of Tetra Technologies, Inc. (NYSE TTI) traded up 2.95% during trading on Friday, hitting $3.14. The stock had a trading volume of 1,672,252 shares. Tetra Technologies, Inc. has a 12-month low of $2.88 and a 12-month high of $6.77. The stock’s 50 day moving average is $3.22 and its 200-day moving average is $4.18. The company’s market cap is $364.09 million.
Tetra Technologies (NYSE:TTI) last posted its earnings results on Wednesday, May 10th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. The company had revenue of $168 million during the quarter, compared to analyst estimates of $168.64 million. Tetra Technologies had a negative return on equity of 11.46% and a negative net margin of 10.90%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.16) earnings per share. Analysts forecast that Tetra Technologies, Inc. will post ($0.17) earnings per share for the current year.
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Several equities analysts have issued reports on the company. Royal Bank Of Canada reiterated a “hold” rating and issued a $5.00 target price on shares of Tetra Technologies in a research note on Friday. Zacks Investment Research downgraded Tetra Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, February 21st. Morgan Stanley downgraded Tetra Technologies from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $8.00 to $6.00 in a report on Monday, March 6th. They noted that the move was a valuation call. Scotiabank set a $7.00 target price on Tetra Technologies and gave the stock a “buy” rating in a report on Thursday, March 2nd. Finally, Simmons decreased their price target on Tetra Technologies from $5.65 to $4.80 and set an “overweight” rating for the company in a report on Tuesday, March 14th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $6.28.
In related news, Director Thomas R. Bates, Jr. bought 12,000 shares of the stock in a transaction dated Wednesday, March 29th. The stock was bought at an average cost of $3.94 per share, with a total value of $47,280.00. Following the completion of the acquisition, the director now owns 76,467 shares of the company’s stock, valued at $301,279.98. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is currently owned by corporate insiders.
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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