Municipal Employees Retirement System of Michigan lifted its position in TETRA Technologies, Inc. (NYSE:TTI) by 662.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,590 shares of the oil and gas company’s stock after purchasing an additional 288,080 shares during the quarter. Municipal Employees Retirement System of Michigan owned 0.29% of TETRA Technologies worth $1,416,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC boosted its holdings in shares of TETRA Technologies by 303.6% in the 4th quarter. Millennium Management LLC now owns 4,161,247 shares of the oil and gas company’s stock worth $17,769,000 after purchasing an additional 3,130,315 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of TETRA Technologies in the 4th quarter worth about $1,067,000. Teachers Advisors LLC boosted its holdings in TETRA Technologies by 25.0% during the 4th quarter. Teachers Advisors LLC now owns 388,497 shares of the oil and gas company’s stock valued at $1,659,000 after acquiring an additional 77,662 shares during the period. Two Sigma Investments LP purchased a new stake in TETRA Technologies during the 4th quarter valued at about $800,000. Finally, Two Sigma Advisers LP purchased a new stake in TETRA Technologies during the 4th quarter valued at about $134,000. Hedge funds and other institutional investors own 90.00% of the company’s stock.
TTI has been the subject of several analyst reports. Piper Jaffray Companies set a $5.00 target price on TETRA Technologies and gave the company a “buy” rating in a report on Friday, December 29th. Scotiabank cut TETRA Technologies to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research cut TETRA Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Royal Bank of Canada set a $5.00 target price on TETRA Technologies and gave the company a “hold” rating in a report on Thursday, December 21st. Finally, Credit Suisse Group restated an “outperform” rating and set a $4.20 target price (up from $4.00) on shares of TETRA Technologies in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $5.02.
TETRA Technologies stock opened at $3.95 on Monday. The company has a market capitalization of $457.76, a P/E ratio of -11.62, a price-to-earnings-growth ratio of 6.29 and a beta of 0.79. The company has a current ratio of 1.95, a quick ratio of 1.26 and a debt-to-equity ratio of 1.79. TETRA Technologies, Inc. has a 52-week low of $1.85 and a 52-week high of $4.54.
TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $227.60 million for the quarter, compared to the consensus estimate of $211.40 million. TETRA Technologies had a negative net margin of 4.76% and a negative return on equity of 4.20%. The company’s revenue for the quarter was up 31.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.16) EPS. equities research analysts forecast that TETRA Technologies, Inc. will post 0.02 earnings per share for the current fiscal year.
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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