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

HITE Hedge Asset Management LLC grew its position in TETRA Technologies, Inc. (NYSE:TTI) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,266,869 shares of the oil and gas company’s stock after buying an additional 4,393 shares during the period. HITE Hedge Asset Management LLC owned approximately 0.96% of TETRA Technologies worth $3,927,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of TETRA Technologies by 8.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,085 shares of the oil and gas company’s stock valued at $170,000 after purchasing an additional 3,792 shares during the last quarter. Diversified Trust Co grew its holdings in shares of TETRA Technologies by 12.0% during the second quarter. Diversified Trust Co now owns 39,762 shares of the oil and gas company’s stock worth $138,000 after purchasing an additional 4,247 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in TETRA Technologies by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 102,722 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 5,265 shares during the period. Point72 DIFC Ltd increased its stake in shares of TETRA Technologies by 82.0% during the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock worth $46,000 after purchasing an additional 5,966 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of TETRA Technologies by 27.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,812 shares of the oil and gas company’s stock valued at $124,000 after acquiring an additional 7,784 shares in the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Wall Street Analyst Weigh In

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

TETRA Technologies Trading Up 0.4 %

Shares of NYSE:TTI opened at $3.87 on Tuesday. 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 52-week low of $2.68 and a 52-week high of $5.08. The business has a 50-day moving average price of $3.47 and a 200-day moving average price of $3.39. 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 announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The business had revenue of $141.70 million during the quarter, compared to the consensus estimate of $156.43 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 earnings per share. Equities analysts predict that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

About TETRA Technologies

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.