Bank of Montreal Can raised its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 447,825 shares of the oil and gas company’s stock after acquiring an additional 43,346 shares during the quarter. Bank of Montreal Can owned about 0.36% of TETRA Technologies worth $2,020,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. raised its position in shares of TETRA Technologies by 14.3% in the second quarter. BlackRock Inc. now owns 17,933,646 shares of the oil and gas company’s stock valued at $79,804,000 after purchasing an additional 2,246,857 shares during the period. Dimensional Fund Advisors LP raised its position in shares of TETRA Technologies by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 7,583,243 shares of the oil and gas company’s stock valued at $33,746,000 after purchasing an additional 702,910 shares during the period. Wells Fargo & Company MN raised its position in shares of TETRA Technologies by 11.9% in the second quarter. Wells Fargo & Company MN now owns 4,914,080 shares of the oil and gas company’s stock valued at $21,867,000 after purchasing an additional 522,495 shares during the period. Renaissance Technologies LLC raised its position in shares of TETRA Technologies by 38.7% in the second quarter. Renaissance Technologies LLC now owns 1,943,200 shares of the oil and gas company’s stock valued at $8,647,000 after purchasing an additional 541,900 shares during the period. Finally, Northern Trust Corp raised its position in shares of TETRA Technologies by 13.0% in the second quarter. Northern Trust Corp now owns 1,523,103 shares of the oil and gas company’s stock valued at $6,778,000 after purchasing an additional 175,398 shares during the period. Hedge funds and other institutional investors own 83.25% of the company’s stock.
A number of research firms have recently commented on TTI. Credit Suisse Group lifted their price target on shares of TETRA Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday, August 13th. Zacks Investment Research lowered shares of TETRA Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. ValuEngine lowered shares of TETRA Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. B. Riley set a $8.00 price target on shares of TETRA Technologies and gave the company a “buy” rating in a research report on Friday, August 10th. Finally, Piper Jaffray Companies set a $5.00 price target on shares of TETRA Technologies and gave the company a “buy” rating in a research report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.61.
Shares of TTI stock opened at $3.06 on Friday. TETRA Technologies, Inc. has a 1 year low of $2.81 and a 1 year high of $5.11. The firm has a market cap of $409.71 million, a P/E ratio of -14.57, a P/E/G ratio of 2.62 and a beta of 1.28. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.66 and a current ratio of 2.45.
TETRA Technologies (NYSE:TTI) last announced its earnings results on Thursday, November 8th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The company had revenue of $256.90 million for the quarter, compared to the consensus estimate of $261.69 million. During the same period last year, the firm posted $0.04 EPS. The company’s revenue was up 18.7% compared to the same quarter last year. Analysts predict that TETRA Technologies, Inc. will post 0.04 EPS for the current year.
In other TETRA Technologies news, Director Thomas R. Bates, Jr. purchased 10,000 shares of the stock in a transaction on Wednesday, September 19th. The shares were purchased at an average price of $4.38 per share, with a total value of $43,800.00. Following the acquisition, the director now directly owns 143,044 shares of the company’s stock, valued at approximately $626,532.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP James H. Funke sold 35,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $5.01, for a total transaction of $175,350.00. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.
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About TETRA Technologies
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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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