Great West Life Assurance Co. Can Holds Stake in Tetra Technologies Inc. (TTI)
Great West Life Assurance Co. Can maintained its position in Tetra Technologies Inc. (NYSE:TTI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,817 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Tetra Technologies were worth $145,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTI. Prudential Financial Inc. boosted its stake in shares of Tetra Technologies by 41.7% in the first quarter. Prudential Financial Inc. now owns 330,280 shares of the company’s stock worth $2,097,000 after buying an additional 97,200 shares during the last quarter. Algert Global LLC boosted its stake in shares of Tetra Technologies by 363.4% in the first quarter. Algert Global LLC now owns 52,505 shares of the company’s stock worth $333,000 after buying an additional 41,175 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Tetra Technologies by 4.2% in the first quarter. BlackRock Group LTD now owns 168,836 shares of the company’s stock worth $1,072,000 after buying an additional 6,741 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Tetra Technologies by 0.3% in the first quarter. BlackRock Fund Advisors now owns 5,444,407 shares of the company’s stock worth $34,572,000 after buying an additional 16,658 shares during the last quarter. Finally, Menta Capital LLC boosted its stake in shares of Tetra Technologies by 1.9% in the first quarter. Menta Capital LLC now owns 109,753 shares of the company’s stock worth $697,000 after buying an additional 2,000 shares during the last quarter. 89.92% of the stock is currently owned by institutional investors.
Tetra Technologies Inc. (NYSE:TTI) traded up 1.23% during midday trading on Thursday, hitting $5.75. The stock had a trading volume of 757,593 shares. The stock’s 50-day moving average is $6.13 and its 200-day moving average is $6.17. Tetra Technologies Inc. has a one year low of $4.62 and a one year high of $9.44. The company’s market cap is $533.05 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.03. The company had revenue of $175.66 million for the quarter, compared to the consensus estimate of $188.42 million. Tetra Technologies had a negative return on equity of 3.33% and a negative net margin of 27.71%. The company’s quarterly revenue was down 44.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.16 earnings per share. Equities analysts predict that Tetra Technologies Inc. will post ($0.48) EPS for the current fiscal year.
Several research firms recently commented on TTI. Wunderlich lowered their target price on Tetra Technologies from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, June 10th. Zacks Investment Research upgraded Tetra Technologies from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 15th. Credit Suisse Group AG restated an “outperform” rating and issued a $8.00 target price on shares of Tetra Technologies in a research report on Monday, July 18th. Simmons restated an “overweight” rating and issued a $7.60 target price (up from $7.35) on shares of Tetra Technologies in a research report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. set a $8.00 target price on Tetra Technologies and gave the company a “buy” rating in a research report on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $8.26.
In other news, VP Bass C. Wallace, Jr. sold 10,300 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $5.86, for a total value of $60,358.00. Following the transaction, the vice president now directly owns 131,373 shares of the company’s stock, valued at approximately $769,845.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Peter J. Pintar sold 20,545 shares of the business’s stock in a transaction that occurred on Wednesday, June 29th. The stock was sold at an average price of $5.90, for a total value of $121,215.50. Following the completion of the transaction, the vice president now directly owns 324,179 shares in the company, valued at $1,912,656.10. The disclosure for this sale can be found here. 4.45% of the stock is owned by insiders.
About Tetra Technologies
TETRA Technologies, Inc is an oil and gas services company. The Company focuses on completion fluids and associated products and services, water management, production well testing, offshore rig cooling, compression services and equipment, and offshore services, such as decommissioning and diving. It is composed of five segments organized into four divisions: Fluids, Production Testing, Compression and Offshore.
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