Invesco Ltd. Buys 41,276 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Invesco Ltd. increased its stake in TETRA Technologies, Inc. (NYSE:TTI) by 7.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 629,273 shares of the oil and gas company’s stock after buying an additional 41,276 shares during the period. Invesco Ltd.’s holdings in TETRA Technologies were worth $2,253,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TTI. American Century Companies Inc. lifted its stake in shares of TETRA Technologies by 36.3% in the fourth quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company’s stock worth $6,210,000 after acquiring an additional 462,213 shares during the period. 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 buying an additional 357,455 shares during the period. Ovata Capital Management Ltd lifted its stake in TETRA Technologies by 33.3% in the fourth quarter. Ovata Capital Management Ltd now owns 1,000,000 shares of the oil and gas company’s stock valued at $3,580,000 after buying an additional 250,000 shares during the period. Norges Bank acquired a new position in TETRA Technologies in the fourth quarter valued at approximately $812,000. Finally, Cinctive Capital Management LP lifted its stake in TETRA Technologies by 109.0% in the fourth quarter. Cinctive Capital Management LP now owns 418,059 shares of the oil and gas company’s stock valued at $1,497,000 after buying an additional 218,059 shares during the period. 70.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TTI shares. Stifel Nicolaus decreased their price objective on TETRA Technologies from $7.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday, April 15th. D. Boral Capital reiterated a “buy” rating and set a $5.50 price target on shares of TETRA Technologies in a report on Wednesday, March 26th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, TETRA Technologies has an average rating of “Buy” and an average price target of $6.67.

TETRA Technologies Price Performance

TTI stock opened at $2.71 on Tuesday. The firm has a 50 day moving average of $3.12 and a 200-day moving average of $3.61. The firm has a market capitalization of $358.79 million, a P/E ratio of 135.57 and a beta of 1.54. TETRA Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $5.12. The company has a current ratio of 2.33, a quick ratio of 1.51 and a debt-to-equity ratio of 1.16.

TETRA Technologies (NYSE:TTI) last posted its earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $134.50 million for the quarter, compared to analyst estimates of $138.96 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. As a group, sell-side analysts predict that TETRA Technologies, Inc. will post 0.15 earnings per share for the current fiscal 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.