Ameriprise Financial Inc. Acquires 378,488 Shares of TETRA Technologies, Inc. (NYSE:TTI)

Ameriprise Financial Inc. raised its holdings in TETRA Technologies, Inc. (NYSE:TTI) by 32.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,559,054 shares of the oil and gas company’s stock after buying an additional 378,488 shares during the quarter. Ameriprise Financial Inc. owned about 1.18% of TETRA Technologies worth $5,581,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Stoneridge Investment Partners LLC boosted its holdings in TETRA Technologies by 23.1% in the fourth quarter. Stoneridge Investment Partners LLC now owns 35,674 shares of the oil and gas company’s stock worth $128,000 after acquiring an additional 6,684 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in TETRA Technologies by 6.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 142,394 shares of the oil and gas company’s stock valued at $510,000 after acquiring an additional 8,323 shares during the last quarter. Boston Partners increased its position in TETRA Technologies by 2.6% in the fourth quarter. Boston Partners now owns 352,384 shares of the oil and gas company’s stock worth $1,262,000 after buying an additional 8,873 shares in the last quarter. KLCM Advisors Inc. purchased a new stake in TETRA Technologies in the fourth quarter worth about $36,000. Finally, HighTower Advisors LLC purchased a new stake in TETRA Technologies in the fourth quarter worth about $39,000. 70.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on TTI shares. Stifel Nicolaus reduced their price target 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. Wall Street Zen lowered TETRA Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 9th. Finally, D. Boral Capital dropped their price target on TETRA Technologies from $5.50 to $4.00 and set a “buy” rating for the company in a research note on Thursday, May 1st.

TETRA Technologies Price Performance

Shares of TTI stock opened at $2.74 on Friday. TETRA Technologies, Inc. has a 52-week low of $2.03 and a 52-week high of $5.12. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.51 and a current ratio of 2.33. The firm has a market capitalization of $363.95 million, a P/E ratio of 136.82 and a beta of 1.31. The stock has a 50 day moving average price of $2.83 and a 200 day moving average price of $3.55.

TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $157.14 million during the quarter, compared to analyst estimates of $160.52 million. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. As a group, sell-side analysts predict 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.