TETRA Technologies, Inc. (NYSE:TTI) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,728,035 shares of the oil and gas company’s stock after purchasing an additional 17,802 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of TETRA Technologies worth $8,458,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of TETRA Technologies by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 495,239 shares of the oil and gas company’s stock worth $1,714,000 after buying an additional 42,206 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in shares of TETRA Technologies in the 2nd quarter worth about $162,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of TETRA Technologies by 27.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,812 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 7,784 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of TETRA Technologies in the 2nd quarter valued at about $53,000. Finally, Ovata Capital Management Ltd purchased a new stake in shares of TETRA Technologies during the 2nd quarter worth about $1,730,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

TETRA Technologies Trading Up 3.9 %

TTI opened at $3.72 on Friday. The firm’s 50 day moving average is $3.66 and its 200-day moving average is $3.39. TETRA Technologies, Inc. has a 52-week low of $2.68 and a 52-week high of $5.08. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $490.33 million, a P/E ratio of 186.09 and a beta of 2.10.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The firm had revenue of $141.70 million for the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 EPS. Analysts expect that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

TTI has been the topic of a number of recent research reports. EF Hutton Acquisition Co. I raised shares of TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st. D. Boral Capital restated a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a report on Tuesday, December 17th. Finally, StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, TETRA Technologies presently has an average rating of “Buy” and a consensus target price of $6.50.

TETRA Technologies Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment 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.