Viking Fund Management LLC raised its position in Tetra Technologies, Inc. (NYSE:TTI) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 600,000 shares of the oil and gas company’s stock after buying an additional 70,000 shares during the period. Viking Fund Management LLC owned approximately 0.52% of Tetra Technologies worth $1,674,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in TTI. Mason Street Advisors LLC raised its position 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. Prudential Financial Inc. raised its position in shares of 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. Legal & General Group Plc increased its stake in shares of Tetra Technologies by 1.9% in the first quarter. Legal & General Group Plc now owns 193,258 shares of the oil and gas company’s stock worth $787,000 after buying an additional 3,513 shares during the period. 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 period. Finally, American International Group Inc. increased its stake in shares of Tetra Technologies by 14.3% in the first quarter. American International Group Inc. now owns 68,652 shares of the oil and gas company’s stock worth $279,000 after buying an additional 8,603 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.
Shares of Tetra Technologies, Inc. (TTI) traded down 2.669% during trading on Tuesday, reaching $2.735. 186,951 shares of the company traded hands. The firm’s 50-day moving average is $2.86 and its 200-day moving average is $3.68. Tetra Technologies, Inc. has a 12-month low of $2.49 and a 12-month high of $6.77. The stock’s market capitalization is $317.13 million.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, May 10th. The oil and gas company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. Tetra Technologies had a negative net margin of 10.90% and a negative return on equity of 11.46%. The business had revenue of $168 million during the quarter, compared to analysts’ expectations of $168.64 million. During the same quarter in the previous year, the company earned ($0.16) EPS. The business’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Tetra Technologies, Inc. will post ($0.17) earnings per share for the current fiscal year.
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A number of brokerages have recently weighed in on TTI. BidaskClub downgraded shares of Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $3.25 price target on shares of Tetra Technologies in a report on Thursday, July 20th. Zacks Investment Research downgraded shares of Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Credit Suisse Group raised shares of Tetra Technologies from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $5.00 to $5.50 in a report on Tuesday, April 11th. Finally, Simmons upped their price target on shares of Tetra Technologies from $4.80 to $7.00 and gave the stock an “overweight” rating in a report on Tuesday, April 11th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $5.90.
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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