Brant Point Investment Management LLC Purchases New Position in Tetra Technologies, Inc. $TTI

Brant Point Investment Management LLC bought a new position in Tetra Technologies, Inc. (NYSE:TTI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 340,000 shares of the oil and gas company’s stock, valued at approximately $3,186,000. Brant Point Investment Management LLC owned about 0.25% of Tetra Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co acquired a new stake in Tetra Technologies in the 4th quarter worth approximately $121,000. Williams Jones Wealth Management LLC. acquired a new stake in Tetra Technologies in the 4th quarter worth approximately $244,000. First Trust Advisors LP lifted its holdings in Tetra Technologies by 2.8% in the 4th quarter. First Trust Advisors LP now owns 422,838 shares of the oil and gas company’s stock worth $3,962,000 after purchasing an additional 11,696 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Tetra Technologies by 0.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,104,484 shares of the oil and gas company’s stock worth $10,349,000 after purchasing an additional 8,918 shares during the last quarter. Finally, State Street Corp lifted its holdings in Tetra Technologies by 11.2% in the 4th quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock worth $32,541,000 after purchasing an additional 350,051 shares during the last quarter. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tetra Technologies

In other Tetra Technologies news, VP Kurt Hallead purchased 22,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the acquisition, the vice president directly owned 170,764 shares in the company, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.25.

Tetra Technologies Stock Down 0.6%

Shares of TTI stock opened at $10.39 on Friday. Tetra Technologies, Inc. has a 12 month low of $3.17 and a 12 month high of $12.54. The firm has a market cap of $1.38 billion, a PE ratio of 207.74 and a beta of 1.22. The stock has a 50 day moving average of $9.69 and a 200-day moving average of $9.65. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The company had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. On average, equities analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

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.