KLP Kapitalforvaltning AS Makes New Investment in TETRA Technologies, Inc. (NYSE:TTI)

KLP Kapitalforvaltning AS purchased a new position in TETRA Technologies, Inc. (NYSE:TTI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,500 shares of the oil and gas company’s stock, valued at approximately $98,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. raised its stake in shares of TETRA Technologies by 36.3% during the 4th quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company’s stock worth $6,210,000 after purchasing an additional 462,213 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in TETRA Technologies by 233.2% in the third quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company’s stock valued at $1,583,000 after acquiring an additional 357,455 shares during the last quarter. Stifel Financial Corp grew its position in TETRA Technologies by 703.0% in the third quarter. Stifel Financial Corp now owns 216,439 shares of the oil and gas company’s stock worth $671,000 after acquiring an additional 189,484 shares in the last quarter. Barclays PLC increased its stake in shares of TETRA Technologies by 369.6% during the 3rd quarter. Barclays PLC now owns 209,873 shares of the oil and gas company’s stock worth $650,000 after purchasing an additional 165,184 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of TETRA Technologies during the 4th quarter valued at $521,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, D. Boral Capital reiterated a “buy” rating and issued a $5.50 price objective on shares of TETRA Technologies in a report on Wednesday, March 26th.

TETRA Technologies Stock Down 1.5 %

Shares of TETRA Technologies stock opened at $2.31 on Friday. TETRA Technologies, Inc. has a 12-month low of $2.03 and a 12-month high of $5.12. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average price of $3.58 and a two-hundred day moving average price of $3.67. The stock has a market capitalization of $305.17 million, a P/E ratio of 115.31 and a beta of 1.54.

TETRA Technologies (NYSE:TTI) last posted its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.03. The business had revenue of $134.50 million during the quarter, compared to the consensus estimate of $138.96 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. Equities analysts expect that TETRA Technologies, Inc. will post 0.15 earnings per share 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.