Voya Investment Management LLC raised its stake in shares of TETRA Technologies, Inc. (NYSE:TTI) by 207.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 153,722 shares of the oil and gas company’s stock after buying an additional 103,734 shares during the period. Voya Investment Management LLC owned about 0.12% of TETRA Technologies worth $684,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of TETRA Technologies during the 2nd quarter valued at about $118,000. GSA Capital Partners LLP raised its stake in shares of TETRA Technologies by 181.3% during the 2nd quarter. GSA Capital Partners LLP now owns 31,352 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 20,205 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of TETRA Technologies by 87.4% during the 2nd quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock valued at $156,000 after buying an additional 16,372 shares during the last quarter. Barclays PLC raised its stake in shares of TETRA Technologies by 47.3% during the 1st quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock valued at $137,000 after buying an additional 11,664 shares during the last quarter. Finally, Raymond James & Associates raised its stake in shares of TETRA Technologies by 215.3% during the 2nd quarter. Raymond James & Associates now owns 48,604 shares of the oil and gas company’s stock valued at $216,000 after buying an additional 33,191 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
In other news, Director Thomas R. Bates, Jr. acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was bought at an average cost of $4.38 per share, for a total transaction of $43,800.00. Following the purchase, the director now owns 143,044 shares in the company, valued at $626,532.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James H. Funke sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $5.01, for a total value of $175,350.00. The disclosure for this sale can be found here. 5.69% of the stock is owned by insiders.
TETRA Technologies (NYSE:TTI) last announced its quarterly earnings results on Thursday, August 9th. The oil and gas company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.02. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The firm had revenue of $260.10 million during the quarter, compared to analyst estimates of $237.95 million. During the same quarter in the previous year, the business earned ($0.04) EPS. TETRA Technologies’s revenue for the quarter was up 44.6% compared to the same quarter last year. Analysts forecast that TETRA Technologies, Inc. will post 0.07 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on TTI shares. B. Riley set a $8.00 price objective on TETRA Technologies and gave the company a “buy” rating in a research note on Sunday, October 7th. Zacks Investment Research lowered TETRA Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. Wells Fargo & Co lifted their price objective on TETRA Technologies from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. Stifel Nicolaus started coverage on TETRA Technologies in a research note on Monday, September 10th. They issued a “buy” rating and a $6.50 price target for the company. Finally, Credit Suisse Group lifted their price target on TETRA Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Monday, August 13th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.61.
TETRA Technologies Company Profile
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.
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