Neuberger Berman Group LLC decreased its position in Tetra Technologies, Inc. (NYSE:TTI) by 4.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,973,102 shares of the oil and gas company’s stock after selling 136,747 shares during the quarter. Neuberger Berman Group LLC owned approximately 2.56% of Tetra Technologies worth $8,295,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of TTI. Municipal Employees Retirement System of Michigan lifted its holdings in 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 valued at $107,000 after acquiring an additional 5,030 shares during the period. Mason Street Advisors LLC lifted its holdings in 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 valued at $110,000 after acquiring an additional 1,961 shares during the period. Hartford Investment Management Co. bought a new position in Tetra Technologies in the second quarter valued at about $118,000. Karp Capital Management Corp bought a new position in Tetra Technologies in the first quarter valued at about $121,000. Finally, Gotham Asset Management LLC bought a new position in Tetra Technologies in the first quarter valued at about $128,000. 91.02% of the stock is currently owned by institutional investors.
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A number of research analysts have weighed in on TTI shares. Royal Bank Of Canada set a $5.00 target price on Tetra Technologies and gave the company a “hold” rating in a report on Friday, June 16th. Morgan Stanley lowered their target price on Tetra Technologies from $5.50 to $4.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Zacks Investment Research downgraded Tetra Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub downgraded Tetra Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Finally, Scotiabank set a $4.00 target price on Tetra Technologies and gave the company a “buy” rating in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Tetra Technologies currently has a consensus rating of “Buy” and an average target price of $5.33.
Shares of Tetra Technologies, Inc. (NYSE:TTI) opened at 2.05 on Monday. Tetra Technologies, Inc. has a 12 month low of $1.85 and a 12 month high of $6.39. The stock’s market cap is $237.59 million. The firm has a 50-day moving average price of $2.26 and a 200-day moving average price of $3.17.
Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, August 9th. The oil and gas company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $208.37 million during the quarter, compared to analyst estimates of $204.19 million. Tetra Technologies had a negative return on equity of 9.56% and a negative net margin of 8.27%. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.15) EPS. Equities analysts forecast that Tetra Technologies, Inc. will post ($0.18) EPS for the current year.
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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