American Century Companies Inc. Boosts Holdings in Tetra Technologies, Inc. $TTI

Key Points

• American Century Companies raised its stake in Tetra Technologies by 13.8% to 3,416,017 shares (2.55% ownership), valued at about $19.64 million, while hedge funds and institutions collectively own roughly 70.19% of the stock.
• Tetra's shares traded around $8.32 with a 52‑week range of $2.03–$12.54 and a market cap of $1.12 billion; the company reported Q4 EPS of $0.02 (missing the $0.03 consensus) but revenue beat at $146.68 million and the stock shows a high trailing P/E of 416.05.
• Analysts hold a consensus of "Moderate Buy" with an average target of $10.25 (four Buys, two Holds), and several firms have recently raised price targets into the $11.50–$13.00 range.

American Century Companies Inc. boosted its stake in Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 13.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,416,017 shares of the oil and gas company's stock after acquiring an additional 414,076 shares during the period. American Century Companies Inc. owned 2.55% of Tetra Technologies worth $19,642,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTI. Choreo LLC purchased a new position in Tetra Technologies in the third quarter valued at approximately $96,000. AXQ Capital LP bought a new stake in shares of Tetra Technologies during the third quarter valued at about $228,000. Vestmark Advisory Solutions Inc. purchased a new stake in Tetra Technologies in the 3rd quarter worth approximately $58,000. CenterBook Partners LP purchased a new stake in shares of Tetra Technologies in the third quarter worth $8,197,000. Finally, GSA Capital Partners LLP grew its holdings in shares of Tetra Technologies by 15.2% during the third quarter. GSA Capital Partners LLP now owns 399,771 shares of the oil and gas company's stock worth $2,299,000 after purchasing an additional 52,679 shares in the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Technologies Stock Performance

Shares of NYSE TTI opened at $8.32 on Tuesday. The firm's 50-day moving average price is $10.59 and its 200-day moving average price is $8.18. Tetra Technologies, Inc. has a 52-week low of $2.03 and a 52-week high of $12.54. The company has a market cap of $1.12 billion, a PE ratio of 416.05 and a beta of 1.20. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TTI shares. 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 objective on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of Tetra Technologies in a report on Friday, January 9th. Clear Str cut Tetra Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 20th. Northland Securities upped their price objective on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an "outperform" rating in a report on Wednesday, December 31st. Finally, Stifel Nicolaus raised their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a "buy" rating in a research note on Monday, January 12th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $10.25.

About Tetra Technologies

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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