HITE Hedge Asset Management LLC Acquires Shares of 840,889 Tetra Technologies, Inc. $TTI

HITE Hedge Asset Management LLC bought a new position in Tetra Technologies, Inc. (NYSE:TTI) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 840,889 shares of the oil and gas company’s stock, valued at approximately $4,835,000. HITE Hedge Asset Management LLC owned about 0.63% of Tetra Technologies as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Tetra Technologies in the third quarter valued at approximately $28,000. Osaic Holdings Inc. boosted its position in Tetra Technologies by 647.1% in the 2nd 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 shares of Tetra Technologies during the 2nd quarter worth approximately $44,000. American Trust purchased a new position in shares of Tetra Technologies during the 2nd quarter valued at approximately $49,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Tetra Technologies by 235.5% during 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. 70.19% of the stock is owned by institutional investors and hedge funds.

Tetra Technologies Price Performance

Tetra Technologies stock opened at $8.27 on Friday. The company’s fifty day moving average price is $10.54 and its 200 day moving average price is $8.22. Tetra Technologies, Inc. has a 1 year low of $2.03 and a 1 year high of $12.54. The stock has a market capitalization of $1.11 billion, a P/E ratio of 413.45 and a beta of 1.20. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI) last issued its quarterly 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). The company had revenue of $146.68 million during the quarter, compared to analysts’ expectations of $140.98 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%. As a group, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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