Allspring Global Investments Holdings LLC Makes New $7.39 Million Investment in Tetra Technologies, Inc. $TTI

Key Points

• Allspring Global Investments bought 788,253 shares of Tetra Technologies (~$7.39 million) in Q4, leaving it with a 0.59% stake, and institutional investors now own about 70.19% of the company.
• Wall Street has a consensus rating of Moderate Buy with a $10.25 target; several firms recently raised targets (Northland to $11.50, Stifel to $13.00) and the analyst split is four Buy vs two Hold.
• Tetra shares opened around $8.45 (down ~3.2%), market cap ~$1.13B and a very high P/E (~422.6); Q4 EPS was $0.02 (missed est. $0.03) while revenue of $146.7M beat estimates.

Allspring Global Investments Holdings LLC acquired a new position in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 788,253 shares of the oil and gas company's stock, valued at approximately $7,386,000. Allspring Global Investments Holdings LLC owned 0.59% of Tetra Technologies at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Tetra Technologies in the 4th quarter valued at approximately $25,359,000. SG Americas Securities LLC purchased a new position in Tetra Technologies in the 4th quarter valued at approximately $591,000. Diversified Trust Co. increased its stake in Tetra Technologies by 5.6% in the 4th quarter. Diversified Trust Co. now owns 45,436 shares of the oil and gas company's stock valued at $426,000 after purchasing an additional 2,396 shares in the last quarter. Fulton Bank N.A. increased its stake in Tetra Technologies by 24.1% in the 4th quarter. Fulton Bank N.A. now owns 44,054 shares of the oil and gas company's stock valued at $413,000 after purchasing an additional 8,558 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Tetra Technologies by 11.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,977 shares of the oil and gas company's stock valued at $301,000 after purchasing an additional 3,281 shares in the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TTI has been the subject of several recent research reports. Northland Securities raised their price target on Tetra Technologies from $8.50 to $11.50 and gave the stock an "outperform" rating in a research report on Wednesday, December 31st. CJS Securities initiated coverage on Tetra Technologies in a research report on Thursday, December 11th. They set an "outperform" rating and a $11.50 price target for the company. Stifel Nicolaus raised their price target on Tetra Technologies from $9.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. Clear Str downgraded Tetra Technologies from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Tetra Technologies in a research report on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $10.25.

Tetra Technologies Trading Down 3.2%

Shares of TTI opened at $8.45 on Tuesday. The stock's 50-day moving average is $9.70 and its two-hundred day moving average is $8.69. The stock has a market cap of $1.13 billion, a PE ratio of 422.55 and a beta of 1.22. Tetra Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $12.54. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.28.

Tetra Technologies (NYSE:TTI - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). The company had revenue of $146.68 million for the quarter, compared to analyst estimates of $140.98 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%. Equities analysts forecast that Tetra Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Tetra Technologies Profile

Tetra Technologies, Inc NYSE: TTI is a provider of specialized products and services to the upstream oil and gas industry. The company operates through two primary segments: Oilfield Services, which offers hydraulic fracturing and wellsite fluid systems, and Chemical Solutions, which manufactures and delivers a broad range of drilling, completion and production chemicals. Tetra's integrated service model spans the design, blending and on-site delivery of fluids, as well as pumping equipment and related wellsite operations.

Within the Oilfield Services segment, Tetra supplies pressure pumping fleets and associated equipment to support onshore hydraulic fracturing and well placement activities.

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