Dimensional Fund Advisors LP Buys 774,482 Shares of Tetra Technologies, Inc. (TTI)
Dimensional Fund Advisors LP increased its stake in Tetra Technologies, Inc. (NYSE:TTI) by 18.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,913,699 shares of the oil and gas company’s stock after buying an additional 774,482 shares during the quarter. Dimensional Fund Advisors LP owned about 4.24% of Tetra Technologies worth $13,709,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Tetra Technologies by 2.1% during 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. grew its stake in Tetra Technologies by 6.3% during 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. Formula Growth Ltd. grew its stake in Tetra Technologies by 51.9% during the 2nd quarter. Formula Growth Ltd. now owns 3,761,806 shares of the oil and gas company’s stock valued at $10,495,000 after purchasing an additional 1,284,629 shares in the last quarter. State Street Corp grew its stake in Tetra Technologies by 20.1% during the 1st quarter. State Street Corp now owns 3,658,629 shares of the oil and gas company’s stock valued at $14,889,000 after purchasing an additional 613,376 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in Tetra Technologies by 21.3% during the 2nd quarter. Federated Investors Inc. PA now owns 1,933,913 shares of the oil and gas company’s stock valued at $5,396,000 after purchasing an additional 339,737 shares in the last quarter. Institutional investors and hedge funds own 91.18% of the company’s stock.
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A number of equities research analysts have weighed in on TTI shares. Piper Jaffray Companies set a $4.00 price objective on Tetra Technologies and gave the company a “buy” rating in a research note on Wednesday, October 11th. Scotiabank set a $4.00 price objective on Tetra Technologies and gave the company a “buy” rating in a research note on Tuesday, August 22nd. Loop Capital raised their price objective on Tetra Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank Of Canada restated a “hold” rating and set a $3.25 price objective on shares of Tetra Technologies in a research note on Thursday, July 20th. Finally, Zacks Investment Research upgraded Tetra Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $5.09.
Tetra Technologies, Inc. (TTI) opened at $3.69 on Tuesday. The company has a quick ratio of 1.38, a current ratio of 2.24 and a debt-to-equity ratio of 1.63. Tetra Technologies, Inc. has a 1-year low of $1.85 and a 1-year high of $5.98.
Tetra Technologies (NYSE:TTI) last announced its quarterly earnings results on Thursday, November 9th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $216.36 million for the quarter, compared to the consensus estimate of $218.65 million. Tetra Technologies had a negative return on equity of 6.89% and a negative net margin of 5.47%. The business’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. sell-side analysts anticipate that Tetra Technologies, Inc. will post -0.22 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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