Voya Investment Management LLC boosted its position in shares of TETRA Technologies, Inc. (NYSE:TTI) by 207.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 153,722 shares of the oil and gas company’s stock after buying an additional 103,734 shares during the period. Voya Investment Management LLC’s holdings in TETRA Technologies were worth $684,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Barclays PLC boosted its holdings in shares of TETRA Technologies by 47.3% during the 1st quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 11,664 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of TETRA Technologies by 9.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 161,573 shares of the oil and gas company’s stock worth $601,000 after purchasing an additional 14,004 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of TETRA Technologies by 87.4% during the 2nd quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 16,372 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of TETRA Technologies by 7.7% during the 2nd quarter. Legal & General Group Plc now owns 248,673 shares of the oil and gas company’s stock worth $1,117,000 after purchasing an additional 17,719 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of TETRA Technologies by 1.4% during the 1st quarter. Northern Trust Corp now owns 1,347,705 shares of the oil and gas company’s stock worth $5,054,000 after purchasing an additional 18,382 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.
In other TETRA Technologies news, Director Thomas R. Bates, Jr. acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were purchased at an average cost of $4.38 per share, for a total transaction of $43,800.00. Following the completion of the acquisition, the director now owns 143,044 shares of the company’s stock, valued at approximately $626,532.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James H. Funke sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $5.01, for a total value of $175,350.00. The disclosure for this sale can be found here. Corporate insiders own 5.69% of the company’s stock.
Several brokerages have recently weighed in on TTI. B. Riley set a $8.00 target price on TETRA Technologies and gave the stock a “buy” rating in a report on Sunday, October 7th. Piper Jaffray Companies set a $5.00 target price on TETRA Technologies and gave the stock a “buy” rating in a report on Wednesday, October 3rd. Credit Suisse Group boosted their target price on TETRA Technologies from $5.00 to $6.00 and gave the stock an “outperform” rating in a report on Monday, August 13th. Zacks Investment Research cut TETRA Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Finally, Stifel Nicolaus began coverage on TETRA Technologies in a report on Monday, September 10th. They set a “buy” rating and a $6.50 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. TETRA Technologies currently has a consensus rating of “Hold” and an average target price of $5.61.
TTI opened at $3.74 on Friday. TETRA Technologies, Inc. has a one year low of $2.55 and a one year high of $5.11. The company has a market capitalization of $566.81 million, a P/E ratio of -17.81, a price-to-earnings-growth ratio of 2.26 and a beta of 0.86. 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 released its quarterly earnings data on Thursday, August 9th. The oil and gas company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. The firm had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $237.95 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s quarterly revenue was up 44.6% on a year-over-year basis. As a group, analysts anticipate that TETRA Technologies, Inc. will post 0.07 EPS for the current year.
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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