Marathon Capital Management Cuts Stake in Tetra Technologies, Inc. $TTI

Marathon Capital Management lessened its position in Tetra Technologies, Inc. (NYSE:TTI) by 5.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,272,025 shares of the oil and gas company’s stock after selling 69,620 shares during the period. Tetra Technologies makes up 1.7% of Marathon Capital Management’s investment portfolio, making the stock its 15th largest holding. Marathon Capital Management’s holdings in Tetra Technologies were worth $7,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TTI. State of Alaska Department of Revenue acquired a new position in shares of Tetra Technologies during the third quarter worth about $28,000. Osaic Holdings Inc. raised its holdings in Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in Tetra Technologies in the second quarter valued at about $44,000. American Trust acquired a new stake in Tetra Technologies in the second quarter valued at about $49,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Tetra Technologies by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 10,204 shares in the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TTI. Stifel Nicolaus boosted their target price on Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Clear Str downgraded Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Northland Securities upped their price objective on Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. CJS Securities started coverage on Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price objective for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Trading Down 0.8%

Shares of TTI opened at $8.22 on Friday. Tetra Technologies, Inc. has a twelve month low of $2.03 and a twelve month high of $12.54. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.10 billion, a P/E ratio of 411.00 and a beta of 1.20. The firm’s 50-day moving average is $10.51 and its two-hundred day moving average is $8.24.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $146.68 million for the quarter, compared to analyst estimates of $140.98 million. Tetra Technologies had a net margin of 0.48% and a return on equity of 12.56%. On average, research analysts predict that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal 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.