Brightline Capital Management LLC Purchases New Shares in Tetra Technologies, Inc. $TTI

Key Points

• Brightline Capital Management LLC acquired 2,655,000 shares of Tetra Technologies, Inc. valued at approximately $8.92 million, making it the 5th biggest position in their portfolio.
• Analyst reports are optimistic about Tetra Technologies, with a consensus rating of "Buy" and a target price of $5.75.
• Tetra Technologies recently reported earnings of $0.09 per share, aligning with analysts' expectations, and had revenue of $173.87 million for the quarter.

Brightline Capital Management LLC bought a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,655,000 shares of the oil and gas company's stock, valued at approximately $8,921,000. Tetra Technologies makes up approximately 7.7% of Brightline Capital Management LLC's holdings, making the stock its 5th biggest position. Brightline Capital Management LLC owned approximately 2.00% of Tetra Technologies at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Aquatic Capital Management LLC purchased a new stake in Tetra Technologies in the 4th quarter worth $40,000. Byrne Asset Management LLC increased its holdings in shares of Tetra Technologies by 67.9% in the 1st quarter. Byrne Asset Management LLC now owns 15,277 shares of the oil and gas company's stock worth $51,000 after buying an additional 6,177 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Tetra Technologies in the 1st quarter worth about $61,000. Vestmark Advisory Solutions Inc. bought a new stake in shares of Tetra Technologies in the 1st quarter worth about $68,000. Finally, Caption Management LLC purchased a new stake in Tetra Technologies in the 4th quarter worth about $92,000. Hedge funds and other institutional investors own 70.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TTI. Wall Street Zen upgraded shares of Tetra Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Stifel Nicolaus increased their price objective on shares of Tetra Technologies from $6.00 to $6.50 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, D. Boral Capital increased their target price on shares of Tetra Technologies from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $5.75.

Tetra Technologies Stock Performance

Shares of Tetra Technologies stock traded up $0.16 during trading on Thursday, hitting $4.67. 959,880 shares of the company's stock were exchanged, compared to its average volume of 1,475,899. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.61 and a current ratio of 2.47. The business has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $3.37. 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 $621.75 million, a price-to-earnings ratio of 5.41 and a beta of 1.33.

Tetra Technologies (NYSE:TTI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Tetra Technologies had a net margin of 18.95% and a return on equity of 14.10%. The firm had revenue of $173.87 million during the quarter, compared to analysts' expectations of $172.46 million. Tetra Technologies has set its FY 2025 guidance at EPS. On average, research analysts forecast that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Tetra Technologies Company Profile

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.