WealthTrust Axiom LLC grew its stake in shares of TETRA Technologies, Inc. (NYSE:TTI) by 7.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 972,354 shares of the oil and gas company’s stock after acquiring an additional 69,600 shares during the period. WealthTrust Axiom LLC’s holdings in TETRA Technologies were worth $1,954,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of TTI. Russell Investments Group Ltd. lifted its position in TETRA Technologies by 78.9% during the second quarter. Russell Investments Group Ltd. now owns 4,357,782 shares of the oil and gas company’s stock worth $7,104,000 after acquiring an additional 1,921,705 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in TETRA Technologies during the second quarter worth approximately $1,569,000. Boston Partners lifted its position in TETRA Technologies by 44.4% during the second quarter. Boston Partners now owns 1,871,579 shares of the oil and gas company’s stock worth $3,051,000 after acquiring an additional 575,631 shares during the last quarter. Invesco Ltd. lifted its position in TETRA Technologies by 51.6% during the second quarter. Invesco Ltd. now owns 1,075,281 shares of the oil and gas company’s stock worth $1,752,000 after acquiring an additional 365,882 shares during the last quarter. Finally, Morgan Stanley lifted its position in TETRA Technologies by 94.7% during the second quarter. Morgan Stanley now owns 746,106 shares of the oil and gas company’s stock worth $1,215,000 after acquiring an additional 362,866 shares during the last quarter. Hedge funds and other institutional investors own 82.51% of the company’s stock.
Several equities research analysts have issued reports on TTI shares. Royal Bank of Canada restated a “hold” rating and set a $2.50 price objective on shares of TETRA Technologies in a research report on Sunday, August 11th. ValuEngine upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of TETRA Technologies from a “hold” rating to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $3.83.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 7th. The oil and gas company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.03). TETRA Technologies had a negative return on equity of 3.45% and a negative net margin of 1.92%. The business had revenue of $245.95 million for the quarter, compared to the consensus estimate of $276.47 million. During the same period in the prior year, the business posted ($0.02) earnings per share. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. Equities research analysts expect that TETRA Technologies, Inc. will post -0.07 earnings per share for the current year.
About TETRA Technologies
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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