Arizona State Retirement System increased its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 224.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 194,794 shares of the oil and gas company’s stock after acquiring an additional 134,704 shares during the quarter. Arizona State Retirement System owned approximately 0.17% of TETRA Technologies worth $832,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. lifted its stake in shares of TETRA Technologies by 0.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 8,059,378 shares of the oil and gas company’s stock worth $23,050,000 after acquiring an additional 53,966 shares in the last quarter. Formula Growth Ltd. lifted its stake in shares of TETRA Technologies by 24.6% in the third quarter. Formula Growth Ltd. now owns 4,687,461 shares of the oil and gas company’s stock worth $13,406,000 after acquiring an additional 925,655 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of TETRA Technologies by 12.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,052,924 shares of the oil and gas company’s stock worth $17,306,000 after acquiring an additional 435,331 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in shares of TETRA Technologies by 5.1% in the third quarter. Neuberger Berman Group LLC now owns 3,123,688 shares of the oil and gas company’s stock worth $8,934,000 after acquiring an additional 150,586 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of TETRA Technologies by 17.7% in the third quarter. Russell Investments Group Ltd. now owns 2,269,671 shares of the oil and gas company’s stock worth $6,490,000 after acquiring an additional 341,617 shares in the last quarter. Institutional investors and hedge funds own 90.00% of the company’s stock.
Several analysts have issued reports on the company. ValuEngine cut TETRA Technologies from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Credit Suisse Group restated an “outperform” rating and set a $4.20 price objective (up previously from $4.00) on shares of TETRA Technologies in a research note on Thursday, March 1st. Piper Jaffray Companies set a $5.00 price objective on TETRA Technologies and gave the company a “buy” rating in a research note on Friday, December 29th. Zacks Investment Research cut TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Howard Weil cut TETRA Technologies from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $5.02.
Shares of TETRA Technologies stock opened at $3.95 on Monday. The stock has a market capitalization of $457.76, a P/E ratio of -11.62, a price-to-earnings-growth ratio of 6.29 and a beta of 0.79. TETRA Technologies, Inc. has a one year low of $1.85 and a one year high of $4.54. The company has a current ratio of 1.95, a quick ratio of 1.26 and a debt-to-equity ratio of 1.79.
TETRA Technologies (NYSE:TTI) last posted its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.02). The company had revenue of $227.60 million for the quarter, compared to the consensus estimate of $211.40 million. TETRA Technologies had a negative net margin of 4.76% and a negative return on equity of 4.20%. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period last year, the company posted ($0.16) earnings per share. equities research analysts expect that TETRA Technologies, Inc. will post 0.02 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “TETRA Technologies, Inc. (TTI) Position Lifted by Arizona State Retirement System” was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this article on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The legal version of this article can be read at https://ledgergazette.com/2018/03/19/tetra-technologies-inc-tti-position-lifted-by-arizona-state-retirement-system.html.
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.
Want to see what other hedge funds are holding TTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TETRA Technologies, Inc. (NYSE:TTI).
Receive News & Ratings for TETRA Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TETRA Technologies and related companies with MarketBeat.com's FREE daily email newsletter.