Needham Investment Management LLC Has $22.25 Million Stock Holdings in Tetra Technologies, Inc. $TTI

Needham Investment Management LLC lifted its stake in Tetra Technologies, Inc. (NYSE:TTI) by 55.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,375,000 shares of the oil and gas company’s stock after buying an additional 850,000 shares during the period. Tetra Technologies accounts for approximately 1.4% of Needham Investment Management LLC’s holdings, making the stock its 20th largest holding. Needham Investment Management LLC’s holdings in Tetra Technologies were worth $22,254,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Stock Down 2.5%

TTI stock opened at $10.14 on Tuesday. Tetra Technologies, Inc. has a 1-year low of $3.17 and a 1-year high of $12.54. The business’s 50 day simple moving average is $9.72 and its 200 day simple moving average is $9.68. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.35 billion, a PE ratio of 202.88 and a beta of 1.22.

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

Insiders Place Their Bets

In related news, VP Kurt Hallead acquired 22,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.27% of the stock is currently owned by corporate insiders.

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.