HITE Hedge Asset Management LLC Purchases New Position in TETRA Technologies, Inc. (NYSE:TTI)

HITE Hedge Asset Management LLC acquired a new position in shares of TETRA Technologies, Inc. (NYSE:TTI) during the 2nd quarter, Holdings Channel reports. The fund acquired 1,262,476 shares of the oil and gas company’s stock, valued at approximately $4,368,000.

Other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd grew its holdings in shares of TETRA Technologies by 82.0% in the 2nd quarter. Point72 DIFC Ltd now owns 13,241 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 5,966 shares during the period. nVerses Capital LLC acquired a new position in TETRA Technologies in the second quarter valued at about $53,000. Principal Financial Group Inc. grew its stake in TETRA Technologies by 15.4% in the first quarter. Principal Financial Group Inc. now owns 16,854 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 2,251 shares during the period. Norden Group LLC bought a new stake in shares of TETRA Technologies in the first quarter worth about $83,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of TETRA Technologies during the first quarter worth about $84,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Friday, August 9th.

TETRA Technologies Trading Up 0.3 %

Shares of NYSE:TTI opened at $3.10 on Wednesday. The firm has a market cap of $407.50 million, a price-to-earnings ratio of 19.38 and a beta of 2.05. TETRA Technologies, Inc. has a 12 month low of $2.68 and a 12 month high of $6.77. The company’s fifty day simple moving average is $3.21 and its 200 day simple moving average is $3.70. The company has a quick ratio of 1.72, a current ratio of 2.41 and a debt-to-equity ratio of 1.17.

TETRA Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). TETRA Technologies had a net margin of 1.61% and a return on equity of 18.84%. The firm had revenue of $171.94 million during the quarter, compared to analyst estimates of $180.66 million. As a group, research analysts forecast that TETRA Technologies, Inc. will post 0.19 EPS for the current fiscal 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.