Everett Harris & Co. CA Cuts Stock Position in Tetra Technologies, Inc. $TTI

Everett Harris & Co. CA lowered its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 17.0% during the 4th quarter, Holdings Channel reports. The firm owned 765,042 shares of the oil and gas company’s stock after selling 156,223 shares during the period. Everett Harris & Co. CA’s holdings in Tetra Technologies were worth $7,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TTI. Rubric Capital Management LP purchased a new position in Tetra Technologies in the third quarter worth $26,046,000. Vaughan Nelson Investment Management L.P. purchased a new position in Tetra Technologies in the fourth quarter worth $25,359,000. CenterBook Partners LP purchased a new position in Tetra Technologies in the third quarter worth $8,197,000. Marshall Wace LLP purchased a new position in Tetra Technologies in the second quarter worth $3,613,000. Finally, HITE Hedge Asset Management LLC purchased a new position in Tetra Technologies in the third quarter worth $4,835,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Tetra Technologies Stock Up 7.2%

Shares of NYSE TTI opened at $9.96 on Tuesday. Tetra Technologies, Inc. has a one year low of $2.99 and a one year high of $12.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. The business’s fifty day moving average price is $9.55 and its 200-day moving average price is $9.58. The stock has a market capitalization of $1.32 billion, a PE ratio of 199.14 and a beta of 1.22.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The firm had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $151.20 million. On average, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.