Stoneridge Investment Partners LLC Sells 71,646 Shares of Tetra Technologies, Inc. (NYSE:TTI)
Stoneridge Investment Partners LLC cut its position in Tetra Technologies, Inc. (NYSE:TTI) by 60.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,539 shares of the oil and gas company’s stock after selling 71,646 shares during the period. Stoneridge Investment Partners LLC’s holdings in Tetra Technologies were worth $133,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan increased its stake in shares of Tetra Technologies by 23.7% in the first quarter. Municipal Employees Retirement System of Michigan now owns 26,270 shares of the oil and gas company’s stock worth $107,000 after buying an additional 5,030 shares during the last quarter. Mason Street Advisors LLC increased its stake in shares of Tetra Technologies by 7.8% in the first quarter. Mason Street Advisors LLC now owns 27,039 shares of the oil and gas company’s stock worth $110,000 after buying an additional 1,961 shares during the last quarter. Hartford Investment Management Co. acquired a new stake in shares of Tetra Technologies during the second quarter worth about $118,000. Karp Capital Management Corp acquired a new stake in shares of Tetra Technologies during the first quarter worth about $121,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of Tetra Technologies during the first quarter worth about $128,000. 93.54% of the stock is owned by institutional investors and hedge funds.
Tetra Technologies, Inc. (TTI) opened at 1.99 on Friday. The firm’s market capitalization is $230.64 million. The firm has a 50-day moving average price of $2.69 and a 200 day moving average price of $3.56. Tetra Technologies, Inc. has a 52-week low of $1.99 and a 52-week high of $6.77.
Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The business had revenue of $208.37 million for the quarter, compared to analysts’ expectations of $204.19 million. During the same quarter last year, the company posted ($0.15) earnings per share. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. Analysts forecast that Tetra Technologies, Inc. will post ($0.17) EPS for the current year.
TTI has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 21st. Zacks Investment Research downgraded Tetra Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Royal Bank Of Canada set a $5.00 price objective on Tetra Technologies and gave the stock a “hold” rating in a research report on Friday, June 16th. Finally, BidaskClub downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Tetra Technologies currently has a consensus rating of “Buy” and an average price target of $5.67.
Tetra Technologies Company Profile
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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