HITE Hedge Asset Management LLC Increases Holdings in TETRA Technologies, Inc. (NYSE:TTI)

HITE Hedge Asset Management LLC raised its position in TETRA Technologies, Inc. (NYSE:TTI) by 0.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,266,869 shares of the oil and gas company’s stock after purchasing an additional 4,393 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in TETRA Technologies were worth $3,927,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Balboa Wealth Partners purchased a new stake in shares of TETRA Technologies in the 3rd quarter valued at approximately $33,000. Townsquare Capital LLC purchased a new stake in shares of TETRA Technologies during the 3rd quarter valued at $36,000. Point72 DIFC Ltd lifted its holdings in TETRA Technologies by 82.0% in the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after buying an additional 5,966 shares in the last quarter. nVerses Capital LLC acquired a new stake in TETRA Technologies during the second quarter worth about $53,000. Finally, US Bancorp DE boosted its holdings in shares of TETRA Technologies by 2,038.0% in the third quarter. US Bancorp DE now owns 17,703 shares of the oil and gas company’s stock valued at $55,000 after acquiring an additional 16,875 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors.

TETRA Technologies Stock Up 0.4 %

Shares of TTI opened at $3.87 on Tuesday. The company has a 50-day moving average price of $3.47 and a two-hundred day moving average price of $3.39. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. TETRA Technologies, Inc. has a 12 month low of $2.68 and a 12 month high of $5.08. The stock has a market cap of $509.45 million, a price-to-earnings ratio of 193.35 and a beta of 2.10.

TETRA Technologies (NYSE:TTI) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The business had revenue of $141.70 million for the quarter, compared to analyst estimates of $156.43 million. During the same quarter in the prior year, the firm posted $0.07 EPS. TETRA Technologies’s revenue was down 6.5% on a year-over-year basis. Equities analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on TTI. StockNews.com upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a research report on Monday, October 21st.

TETRA Technologies Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment 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.