Tetra Technologies, Inc. $TTI Shares Sold by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC lowered its holdings in shares of Tetra Technologies, Inc. (NYSE:TTI) by 32.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 571,133 shares of the oil and gas company’s stock after selling 269,756 shares during the period. HITE Hedge Asset Management LLC’s holdings in Tetra Technologies were worth $5,352,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TTI. AQR Capital Management LLC boosted its stake in Tetra Technologies by 87.3% during the 1st quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock worth $405,000 after purchasing an additional 56,203 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Tetra Technologies by 125.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock worth $544,000 after purchasing an additional 90,001 shares during the period. Jane Street Group LLC boosted its stake in Tetra Technologies by 389.7% during the 1st quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after purchasing an additional 302,793 shares during the period. JPMorgan Chase & Co. boosted its stake in Tetra Technologies by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock worth $1,309,000 after purchasing an additional 3,547 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Tetra Technologies by 74.4% during the 2nd quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 7,590 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

Insider Activity at Tetra Technologies

In other news, VP Kurt Hallead bought 22,000 shares of Tetra Technologies stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the purchase, the vice president 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.27% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Down 0.6%

TTI stock opened at $10.39 on Friday. Tetra Technologies, Inc. has a one year low of $3.17 and a one year high of $12.54. The stock has a market capitalization of $1.38 billion, a PE ratio of 207.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The company has a fifty day moving average of $9.69 and a 200-day moving average of $9.65.

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

Tetra Technologies Profile

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.