Laurion Capital Management LP bought a new position in shares of TETRA Technologies, Inc. (NYSE:TTI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 72,400 shares of the oil and gas company’s stock, valued at approximately $322,000. Laurion Capital Management LP owned approximately 0.06% of TETRA Technologies as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of TTI. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in TETRA Technologies during the second quarter worth about $118,000. Barclays PLC grew its holdings in shares of TETRA Technologies by 47.3% during the first quarter. Barclays PLC now owns 36,334 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 11,664 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of TETRA Technologies by 181.3% during the second quarter. GSA Capital Partners LLP now owns 31,352 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 20,205 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of TETRA Technologies by 87.4% during the second quarter. SG Americas Securities LLC now owns 35,112 shares of the oil and gas company’s stock worth $156,000 after purchasing an additional 16,372 shares during the last quarter. Finally, Brasada Capital Management LP bought a new stake in shares of TETRA Technologies during the first quarter worth about $206,000. 83.75% of the stock is owned by institutional investors.
Shares of NYSE:TTI traded down $0.12 during trading on Friday, reaching $3.74. 848,733 shares of the stock were exchanged, compared to its average volume of 753,803. The company has a quick ratio of 1.66, a current ratio of 2.45 and a debt-to-equity ratio of 2.61. TETRA Technologies, Inc. has a 1-year low of $2.55 and a 1-year high of $5.11. The firm has a market capitalization of $566.81 million, a price-to-earnings ratio of -17.81, a PEG ratio of 2.26 and a beta of 0.86.
TETRA Technologies (NYSE:TTI) last issued its earnings results on Thursday, August 9th. The oil and gas company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $260.10 million for the quarter, compared to analyst estimates of $237.95 million. TETRA Technologies had a negative return on equity of 0.90% and a negative net margin of 9.43%. TETRA Technologies’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. Equities research analysts anticipate that TETRA Technologies, Inc. will post 0.07 earnings per share for the current fiscal year.
TTI has been the topic of several research reports. B. Riley set a $8.00 price target on TETRA Technologies and gave the stock a “buy” rating in a report on Sunday, October 7th. Zacks Investment Research cut TETRA Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Wells Fargo & Co upped their target price on TETRA Technologies from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, August 10th. Stifel Nicolaus assumed coverage on TETRA Technologies in a report on Monday, September 10th. They issued a “buy” rating and a $6.50 target price on the stock. Finally, Credit Suisse Group upped their target price on TETRA Technologies from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.61.
In other TETRA Technologies news, VP James H. Funke sold 35,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $5.01, for a total value of $175,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas R. Bates, Jr. acquired 10,000 shares of TETRA Technologies stock in a transaction on Wednesday, September 19th. The stock was acquired at an average price of $4.38 per share, with a total value of $43,800.00. Following the purchase, the director now directly owns 143,044 shares in the company, valued at $626,532.72. The disclosure for this purchase can be found here. Corporate insiders own 5.69% of the company’s stock.
TETRA Technologies Company Profile
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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