Geode Capital Management LLC Acquires 13,769 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Geode Capital Management LLC increased its holdings in shares of TETRA Technologies, Inc. (NYSE:TTI) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,741,804 shares of the oil and gas company’s stock after purchasing an additional 13,769 shares during the period. Geode Capital Management LLC owned 2.08% of TETRA Technologies worth $9,818,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in TETRA Technologies in the fourth quarter valued at about $812,000. JPMorgan Chase & Co. boosted its holdings in shares of TETRA Technologies by 58.7% in the 4th quarter. JPMorgan Chase & Co. now owns 810,581 shares of the oil and gas company’s stock valued at $2,902,000 after buying an additional 299,876 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of TETRA Technologies in the 4th quarter worth approximately $98,000. American Century Companies Inc. raised its stake in shares of TETRA Technologies by 36.3% during the 4th quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company’s stock worth $6,210,000 after acquiring an additional 462,213 shares in the last quarter. Finally, Boston Partners lifted its position in TETRA Technologies by 2.6% during the fourth quarter. Boston Partners now owns 352,384 shares of the oil and gas company’s stock valued at $1,262,000 after acquiring an additional 8,873 shares during the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTI has been the topic of several analyst reports. D. Boral Capital reaffirmed a “buy” rating and issued a $5.50 price target on shares of TETRA Technologies in a report on Wednesday, March 26th. Stifel Nicolaus lowered their price objective on TETRA Technologies from $7.00 to $6.50 and set a “buy” rating for the company in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, TETRA Technologies has an average rating of “Buy” and an average target price of $6.67.

TETRA Technologies Stock Up 1.6 %

TTI stock opened at $2.47 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. TETRA Technologies, Inc. has a 52 week low of $2.03 and a 52 week high of $5.12. The stock has a market capitalization of $327.01 million, a PE ratio of 123.56 and a beta of 1.54. The firm has a 50 day moving average of $3.22 and a 200 day moving average of $3.62.

TETRA Technologies (NYSE:TTI) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $134.50 million for the quarter, compared to analyst estimates of $138.96 million. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. Sell-side analysts forecast that TETRA Technologies, Inc. will post 0.15 earnings per share for the current year.

About TETRA Technologies

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.