Tetra Technologies, Inc. $TTI Position Cut by Icon Advisers Inc. Co.

Icon Advisers Inc. Co. trimmed its position in shares of Tetra Technologies, Inc. (NYSE:TTI) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,500,000 shares of the oil and gas company’s stock after selling 200,000 shares during the period. Tetra Technologies makes up about 1.9% of Icon Advisers Inc. Co.’s holdings, making the stock its 6th largest holding. Icon Advisers Inc. Co.’s holdings in Tetra Technologies were worth $8,625,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TTI. AQR Capital Management LLC raised its holdings in shares of Tetra Technologies by 87.3% in the 1st quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 56,203 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tetra Technologies by 125.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 90,001 shares in the last quarter. Jane Street Group LLC increased its stake in Tetra Technologies by 389.7% during the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after purchasing an additional 302,793 shares during the period. Versor Investments LP acquired a new stake in shares of Tetra Technologies during the second quarter worth about $82,000. Finally, CSM Advisors LLC purchased a new position in shares of Tetra Technologies in the second quarter valued at approximately $3,228,000. 70.19% of the stock is owned by institutional investors and hedge funds.

Tetra Technologies Price Performance

Shares of TTI opened at $8.14 on Friday. Tetra Technologies, Inc. has a twelve month low of $2.03 and a twelve month high of $12.54. The firm’s fifty day simple moving average is $10.61 and its 200-day simple moving average is $8.10. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 407.00 and a beta of 1.20. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.01). The business had revenue of $146.68 million for the quarter, compared to analyst estimates of $140.98 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%. Equities analysts forecast that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. CJS Securities began coverage on shares of Tetra Technologies in a research note on Thursday, December 11th. They set an “outperform” rating and a $11.50 target price on the stock. Clear Str lowered Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Stifel Nicolaus upped their price target on Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Northland Securities increased their price target on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research report on Wednesday, December 31st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Tetra Technologies Company Profile

Tetra Technologies, Inc (NYSE: TTI) is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra’s integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.