Matarin Capital Management LLC Buys New Stake in TETRA Technologies, Inc. (TTI)
Matarin Capital Management LLC purchased a new position in TETRA Technologies, Inc. (NYSE:TTI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 89,308 shares of the oil and gas company’s stock, valued at approximately $403,000. Matarin Capital Management LLC owned approximately 0.07% of TETRA Technologies as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. BlackRock Inc. grew its stake in shares of TETRA Technologies by 3.0% in the third quarter. BlackRock Inc. now owns 18,478,386 shares of the oil and gas company’s stock worth $83,336,000 after acquiring an additional 544,740 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of TETRA Technologies by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 7,646,508 shares of the oil and gas company’s stock worth $34,485,000 after acquiring an additional 63,265 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of TETRA Technologies by 0.5% in the third quarter. Wells Fargo & Company MN now owns 4,939,235 shares of the oil and gas company’s stock worth $22,276,000 after acquiring an additional 25,155 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of TETRA Technologies by 38.7% in the second quarter. Renaissance Technologies LLC now owns 1,943,200 shares of the oil and gas company’s stock worth $8,647,000 after acquiring an additional 541,900 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of TETRA Technologies by 13.0% in the second quarter. Northern Trust Corp now owns 1,523,103 shares of the oil and gas company’s stock worth $6,778,000 after acquiring an additional 175,398 shares in the last quarter. Institutional investors and hedge funds own 84.17% of the company’s stock.
Shares of TTI stock opened at $1.78 on Friday. The company has a debt-to-equity ratio of 2.69, a current ratio of 2.27 and a quick ratio of 1.45. The firm has a market cap of $233.82 million, a P/E ratio of -8.48 and a beta of 1.25. TETRA Technologies, Inc. has a 12 month low of $1.76 and a 12 month high of $5.11.
TTI has been the subject of several research reports. B. Riley set a $8.00 price target on shares of TETRA Technologies and gave the stock a “buy” rating in a research note on Sunday, October 7th. Piper Jaffray Companies set a $5.00 price target on shares of TETRA Technologies and gave the stock a “buy” rating in a research note on Wednesday, October 3rd. Stifel Nicolaus initiated coverage on shares of TETRA Technologies in a research note on Monday, September 10th. They issued a “buy” rating and a $6.50 price target for the company. Raymond James downgraded shares of TETRA Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Credit Suisse Group dropped their price target on shares of TETRA Technologies from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. TETRA Technologies currently has a consensus rating of “Hold” and an average price target of $5.92.
In other news, Director Thomas R. Bates, Jr. bought 10,000 shares of the stock in a transaction that occurred on Wednesday, September 19th. The stock was purchased at an average price of $4.38 per share, for a total transaction of $43,800.00. Following the completion of the purchase, the director now owns 143,044 shares in the company, valued at approximately $626,532.72. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.69% of the company’s stock.
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About TETRA Technologies
TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Fluids division 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.
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