Tetra Technologies, Inc. (TTI) Shares Bought by Formula Growth Ltd.
Formula Growth Ltd. lifted its stake in shares of Tetra Technologies, Inc. (NYSE:TTI) by 51.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,761,806 shares of the oil and gas company’s stock after acquiring an additional 1,284,629 shares during the quarter. Tetra Technologies comprises about 1.8% of Formula Growth Ltd.’s investment portfolio, making the stock its 14th biggest holding. Formula Growth Ltd. owned 3.24% of Tetra Technologies worth $10,495,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prudential Financial Inc. grew its position in Tetra Technologies by 1.6% in the first quarter. Prudential Financial Inc. now owns 193,810 shares of the oil and gas company’s stock worth $789,000 after buying an additional 3,080 shares during the last quarter. Bank of Montreal Can grew its position in Tetra Technologies by 148.8% in the first quarter. Bank of Montreal Can now owns 163,984 shares of the oil and gas company’s stock worth $667,000 after buying an additional 98,067 shares during the last quarter. Wells Fargo & Company MN grew its position in Tetra Technologies by 23.3% in the first quarter. Wells Fargo & Company MN now owns 3,987,876 shares of the oil and gas company’s stock worth $16,230,000 after buying an additional 753,964 shares during the last quarter. Viking Fund Management LLC grew its position in Tetra Technologies by 13.2% in the second quarter. Viking Fund Management LLC now owns 600,000 shares of the oil and gas company’s stock worth $1,674,000 after buying an additional 70,000 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its position in Tetra Technologies by 3.9% in the first quarter. Neuberger Berman Group LLC now owns 3,109,849 shares of the oil and gas company’s stock worth $12,657,000 after buying an additional 116,893 shares during the last quarter. Institutional investors and hedge funds own 91.01% of the company’s stock.
Shares of Tetra Technologies, Inc. (NYSE TTI) traded up 3.711% during midday trading on Friday, hitting $2.655. 792,683 shares of the company’s stock were exchanged. The company has a 50-day moving average of $2.18 and a 200-day moving average of $3.04. The firm’s market cap is $307.71 million. Tetra Technologies, Inc. has a 52 week low of $1.85 and a 52 week high of $6.34.
Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share (EPS) 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 company had revenue of $208.37 million for the quarter, compared to the consensus estimate of $204.19 million. During the same period in the prior year, the company earned ($0.15) EPS. The firm’s revenue was up 18.6% on a year-over-year basis. Equities research analysts expect that Tetra Technologies, Inc. will post ($0.18) EPS for the current fiscal year.
Several research analysts have issued reports on TTI shares. Scotiabank set a $4.00 price target on shares of Tetra Technologies and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Morgan Stanley decreased their price objective on shares of Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Tetra Technologies from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Royal Bank Of Canada set a $5.00 price objective on shares of Tetra Technologies and gave the stock a “hold” rating in a research note on Friday, June 16th. Finally, J P Morgan Chase & Co lowered shares of Tetra Technologies from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Tetra Technologies currently has an average rating of “Buy” and an average price target of $5.33.
Tetra Technologies 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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