840,889 Shares in Tetra Technologies, Inc. $TTI Purchased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC acquired a new position in shares of Tetra Technologies, Inc. (NYSE:TTI) in the 3rd quarter, HoldingsChannel reports. The firm acquired 840,889 shares of the oil and gas company’s stock, valued at approximately $4,835,000.

Other hedge funds have also made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of Tetra Technologies in the third quarter valued at approximately $28,000. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Tetra Technologies during the third quarter worth approximately $58,000. Osaic Holdings Inc. increased its position in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in Tetra Technologies in the 2nd quarter valued at $44,000. Finally, American Trust acquired a new position in Tetra Technologies in the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Tetra Technologies Stock Performance

Shares of Tetra Technologies stock opened at $8.27 on Friday. Tetra Technologies, Inc. has a one year low of $2.03 and a one year high of $12.54. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 413.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02. The business’s 50 day moving average price is $10.54 and its 200 day moving average price is $8.22.

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

Analyst Upgrades and Downgrades

TTI has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a report on Monday, January 12th. CJS Securities began coverage on shares of Tetra Technologies in a report on Thursday, December 11th. They set an “outperform” rating and a $11.50 target price for the company. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Northland Securities raised their price target on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a research note on Wednesday, December 31st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a research report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.25.

About Tetra Technologies

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.