Capstone Asset Management Co. increased its stake in shares of Tetra Technologies Inc. (NYSE:TTI) by 9.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,612 shares of the company’s stock after buying an additional 2,056 shares during the period. Capstone Asset Management Co.’s holdings in Tetra Technologies were worth $144,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of TTI. Creative Planning acquired a new position in shares of Tetra Technologies during the third quarter valued at $122,000. Mason Street Advisors LLC acquired a new position in shares of Tetra Technologies during the second quarter valued at $112,000. Royal Bank of Canada increased its position in shares of Tetra Technologies by 3.7% in the second quarter. Royal Bank of Canada now owns 48,301 shares of the company’s stock valued at $308,000 after buying an additional 1,736 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Tetra Technologies by 27.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,242,814 shares of the company’s stock valued at $7,917,000 after buying an additional 265,957 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Tetra Technologies by 45.4% in the second quarter. Legal & General Group Plc now owns 20,802 shares of the company’s stock valued at $128,000 after buying an additional 6,500 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.
Tetra Technologies Inc. (NYSE:TTI) opened at 5.99 on Friday. The stock’s 50 day moving average price is $5.97 and its 200-day moving average price is $6.12. Tetra Technologies Inc. has a 12 month low of $4.62 and a 12 month high of $9.44. The stock’s market cap is $555.30 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.03. The company had revenue of $175.66 million for the quarter, compared to analyst estimates of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The firm’s revenue was down 44.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Equities research analysts predict that Tetra Technologies Inc. will post ($0.48) EPS for the current year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Tetra Technologies from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a report on Wednesday, July 13th. Wunderlich increased their price target on shares of Tetra Technologies from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 16th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $8.00 price target on shares of Tetra Technologies in a report on Monday, July 18th. Simmons reiterated an “overweight” rating and issued a $7.60 price target (up previously from $7.35) on shares of Tetra Technologies in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. set a $8.00 price target on shares of Tetra Technologies and gave the stock a “buy” rating in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $8.26.
In other Tetra Technologies news, VP Keith L. Schilling sold 24,341 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $6.37, for a total transaction of $155,052.17. Following the transaction, the vice president now owns 111,161 shares of the company’s stock, valued at $708,095.57. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.45% of the company’s stock.
Tetra Technologies Company Profile
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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