Russell Investments Group Ltd. Raises Position in TETRA Technologies, Inc. (NYSE:TTI)

Russell Investments Group Ltd. increased its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI) by 20.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 861,028 shares of the oil and gas company’s stock after purchasing an additional 145,625 shares during the period. Russell Investments Group Ltd.’s holdings in TETRA Technologies were worth $3,082,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TTI. Dynamic Technology Lab Private Ltd purchased a new position in shares of TETRA Technologies in the fourth quarter worth $63,000. Wells Fargo & Company MN raised its stake in TETRA Technologies by 17.1% in the 4th quarter. Wells Fargo & Company MN now owns 133,664 shares of the oil and gas company’s stock worth $479,000 after acquiring an additional 19,528 shares during the last quarter. Ovata Capital Management Ltd lifted its position in TETRA Technologies by 33.3% during the 4th quarter. Ovata Capital Management Ltd now owns 1,000,000 shares of the oil and gas company’s stock worth $3,580,000 after acquiring an additional 250,000 shares during the period. Cinctive Capital Management LP grew its stake in TETRA Technologies by 109.0% during the 4th quarter. Cinctive Capital Management LP now owns 418,059 shares of the oil and gas company’s stock valued at $1,497,000 after purchasing an additional 218,059 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of TETRA Technologies by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 2,741,804 shares of the oil and gas company’s stock valued at $9,818,000 after purchasing an additional 13,769 shares during the period. 70.19% of the stock is owned by institutional investors and hedge funds.

TETRA Technologies Stock Performance

NYSE TTI opened at $2.40 on Thursday. The firm has a market capitalization of $317.75 million, a P/E ratio of 120.06 and a beta of 1.54. The stock has a 50-day simple moving average of $3.42 and a two-hundred day simple moving average of $3.65. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33. TETRA Technologies, Inc. has a fifty-two week low of $2.03 and a fifty-two week high of $5.12.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The company had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $138.96 million. On average, equities analysts forecast that TETRA Technologies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on TTI shares. Stifel Nicolaus decreased their target price on TETRA Technologies from $7.00 to $6.50 and set a “buy” rating for the company in a report on Tuesday. D. Boral Capital reissued a “buy” rating and set a $5.50 price target on shares of TETRA Technologies in a research report on Wednesday, March 26th. One equities 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. According to MarketBeat.com, TETRA Technologies currently has a consensus rating of “Buy” and a consensus price target of $6.67.

TETRA Technologies Profile

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.