Cinctive Capital Management LP Has $2.68 Million Holdings in Tetra Technologies, Inc. $TTI

Cinctive Capital Management LP increased its stake in shares of Tetra Technologies, Inc. (NYSE:TTI) by 128.7% during the third quarter, HoldingsChannel.com reports. The fund owned 466,711 shares of the oil and gas company’s stock after purchasing an additional 262,681 shares during the period. Cinctive Capital Management LP’s holdings in Tetra Technologies were worth $2,684,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Tetra Technologies by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after purchasing an additional 174,028 shares during the last quarter. Rubric Capital Management LP acquired a new position in Tetra Technologies during the third quarter valued at approximately $26,046,000. Dimensional Fund Advisors LP grew its holdings in Tetra Technologies by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock valued at $25,414,000 after purchasing an additional 72,338 shares during the last quarter. American Century Companies Inc. raised its position in shares of Tetra Technologies by 13.8% in the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock valued at $19,642,000 after purchasing an additional 414,076 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Tetra Technologies by 3.5% in the second quarter. Geode Capital Management LLC now owns 2,919,275 shares of the oil and gas company’s stock valued at $9,810,000 after purchasing an additional 99,381 shares during the period. 70.19% of the stock is owned by institutional investors.

Tetra Technologies Trading Down 0.8%

Shares of Tetra Technologies stock opened at $8.22 on Monday. Tetra Technologies, Inc. has a 1 year low of $2.03 and a 1 year high of $12.54. The company’s fifty day simple moving average is $10.51 and its 200-day simple moving average is $8.29. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 411.00 and a beta of 1.20. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64.

Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by ($0.01). Tetra Technologies had a net margin of 0.48% and a return on equity of 12.56%. The company had revenue of $146.68 million for the quarter, compared to analyst estimates of $140.98 million. As a group, sell-side analysts expect that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on TTI. Stifel Nicolaus upped their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Northland Securities lifted their target price on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. CJS Securities assumed coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They set an “outperform” rating and a $11.50 target price for the company. Clear Str cut shares of Tetra Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tetra Technologies in a research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.25.

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.