JPMorgan Chase & Co. raised its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI) by 346.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 206,100 shares of the oil and gas company’s stock after purchasing an additional 159,913 shares during the period. JPMorgan Chase & Co. owned 0.18% of TETRA Technologies worth $602,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of TTI. Fuller & Thaler Asset Management Inc. grew its position in TETRA Technologies by 0.7% during the 3rd 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 purchasing an additional 53,966 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in TETRA Technologies by 17.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,269,671 shares of the oil and gas company’s stock valued at $6,490,000 after acquiring an additional 341,617 shares during the period. BNP Paribas Arbitrage SA lifted its stake in TETRA Technologies by 68.0% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 58,889 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 23,839 shares during the period. Boston Partners lifted its stake in TETRA Technologies by 8.7% during the 3rd quarter. Boston Partners now owns 5,178,124 shares of the oil and gas company’s stock valued at $14,809,000 after acquiring an additional 415,120 shares during the period. Finally, Aperio Group LLC lifted its stake in TETRA Technologies by 16.4% during the 3rd quarter. Aperio Group LLC now owns 136,036 shares of the oil and gas company’s stock valued at $389,000 after acquiring an additional 19,203 shares during the period. 90.55% of the stock is currently owned by hedge funds and other institutional investors.
TTI has been the subject of several research reports. Loop Capital lifted their price objective on shares of TETRA Technologies from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, November 10th. Piper Jaffray Companies set a $4.00 target price on shares of TETRA Technologies and gave the company a “buy” rating in a research note on Wednesday, October 11th. Zacks Investment Research upgraded shares of TETRA Technologies from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Thursday, November 16th. Morgan Stanley boosted their target price on shares of TETRA Technologies from $3.00 to $4.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 15th. Finally, Royal Bank of Canada set a $5.00 price target on shares of TETRA Technologies and gave the stock a “hold” rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. TETRA Technologies presently has a consensus rating of “Hold” and a consensus target price of $5.00.
TETRA Technologies (NYSE:TTI) last posted its earnings results on Thursday, November 9th. The oil and gas company reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. TETRA Technologies had a negative net margin of 5.47% and a negative return on equity of 6.89%. The company had revenue of $216.36 million for the quarter, compared to analysts’ expectations of $218.65 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. TETRA Technologies’s revenue for the quarter was up 22.5% compared to the same quarter last year. research analysts expect that TETRA Technologies, Inc. will post -0.15 EPS for the current fiscal year.
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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