Comerica Bank Trims Holdings in Tetra Technologies, Inc. $TTI

Key Points

• Comerica Bank cut its stake in Tetra Technologies by 54.3% in the fourth quarter, selling 137,755 shares and leaving it with 116,130 shares valued at about $1.09 million.
• Other institutional investors have been active in TTI, with several funds opening new positions, and 70.19% of the stock is now held by hedge funds and other institutions.
• Tetra Technologies reported better-than-expected quarterly results, posting EPS of $0.06 versus $0.03 expected and revenue of $156.25 million versus $151.20 million expected; analysts currently rate the stock Moderate Buy with a $10.25 price target.

Comerica Bank reduced its holdings in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 54.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 116,130 shares of the oil and gas company's stock after selling 137,755 shares during the quarter. Comerica Bank owned 0.09% of Tetra Technologies worth $1,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TTI. Rubric Capital Management LP purchased a new position in shares of Tetra Technologies during the 3rd quarter valued at approximately $26,046,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Tetra Technologies during the 4th quarter valued at approximately $25,359,000. CenterBook Partners LP acquired a new stake in shares of Tetra Technologies during the 3rd quarter valued at approximately $8,197,000. Acuitas Investments LLC bought a new position in Tetra Technologies during the third quarter worth $6,787,000. Finally, Marshall Wace LLP bought a new position in Tetra Technologies during the second quarter worth $3,613,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Technologies Stock Performance

TTI stock opened at $9.79 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 195.76 and a beta of 1.21. Tetra Technologies, Inc. has a 1 year low of $2.63 and a 1 year high of $12.54. The stock's fifty day moving average is $8.75 and its two-hundred day moving average is $9.15.

Tetra Technologies (NYSE:TTI - Get Free Report) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $156.25 million for the quarter, compared to analysts' expectations of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. On average, research analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TTI shares. Stifel Nicolaus raised their price objective on Tetra Technologies from $9.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Clear Str cut Tetra Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 20th. Finally, Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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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