Simcoe Capital LLC Takes Position in Tetra Technologies, Inc. $TTI

Simcoe Capital LLC purchased a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 310,250 shares of the oil and gas company’s stock, valued at approximately $2,907,000. Tetra Technologies comprises about 2.7% of Simcoe Capital LLC’s investment portfolio, making the stock its 23rd largest position.

Other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue bought a new stake in shares of Tetra Technologies during the 3rd quarter valued at about $28,000. Stone House Investment Management LLC bought a new stake in Tetra Technologies in the 4th quarter worth approximately $39,000. Osaic Holdings Inc. boosted its stake in Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after buying an additional 11,000 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Tetra Technologies by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 10,204 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Tetra Technologies during the second quarter worth approximately $51,000. Institutional investors own 70.19% of the company’s stock.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $10.27 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. Tetra Technologies, Inc. has a fifty-two week low of $2.63 and a fifty-two week high of $12.54. The stock has a 50 day moving average price of $8.78 and a two-hundred day moving average price of $9.21. The company has a market capitalization of $1.39 billion, a P/E ratio of 205.50 and a beta of 1.21.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Analysts expect that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on TTI. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings raised shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Tetra Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies 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.