Huber Capital Management LLC Sells 316,400 Shares of Tetra Technologies, Inc. $TTI

Key Points

• Huber Capital Management LLC reduced its stake in Tetra Technologies by 17.9%, selling 316,400 shares in the quarter and leaving it with 1,453,680 shares (about 1.09% of the company) valued at roughly $8.36 million as its 27th largest holding.
• Analysts have grown more positive recently, with several price-target increases (e.g., Northland to $11.50, Stifel to $13.00) and a consensus rating of Moderate Buy with a $10.25 average target.
• Tetra reported $0.02 EPS for the quarter (missing by $0.01) but beat revenue expectations at $146.7 million; shares traded at $8.22, the company has a $1.10 billion market cap and a 52-week range of $2.03–$12.54.

Huber Capital Management LLC lessened its holdings in Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,453,680 shares of the oil and gas company's stock after selling 316,400 shares during the period. Tetra Technologies comprises approximately 1.3% of Huber Capital Management LLC's holdings, making the stock its 27th biggest position. Huber Capital Management LLC owned approximately 1.09% of Tetra Technologies worth $8,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TTI. Sei Investments Co. increased its stake in shares of Tetra Technologies by 2.5% in the 3rd quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company's stock worth $421,000 after purchasing an additional 1,754 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Tetra Technologies by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company's stock valued at $1,309,000 after purchasing an additional 3,547 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Tetra Technologies by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 48,840 shares of the oil and gas company's stock valued at $164,000 after purchasing an additional 3,551 shares during the period. Profund Advisors LLC increased its position in Tetra Technologies by 29.4% in the third quarter. Profund Advisors LLC now owns 18,593 shares of the oil and gas company's stock worth $107,000 after buying an additional 4,223 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in Tetra Technologies in the third quarter worth about $28,000. Hedge funds and other institutional investors own 70.19% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TTI. Northland Securities lifted their price objective on Tetra Technologies from $8.50 to $11.50 and gave the company an "outperform" rating in a research report on Wednesday, December 31st. Clear Str cut shares of Tetra Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 20th. CJS Securities assumed coverage on shares of Tetra Technologies in a report on Thursday, December 11th. They set an "outperform" rating and a $11.50 price target on the stock. Stifel Nicolaus upped their price target on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Tetra Technologies in a research note on Friday, January 9th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Tetra Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $10.25.

Tetra Technologies Price Performance

Shares of NYSE:TTI traded down $0.07 during trading on Friday, hitting $8.22. 27,754 shares of the company's stock were exchanged, compared to its average volume of 1,937,062. The business's 50-day simple moving average is $10.54 and its 200 day simple moving average is $8.22. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 416.75 and a beta of 1.20. Tetra Technologies, Inc. has a 52-week low of $2.03 and a 52-week 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 posted its quarterly earnings results 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 business had revenue of $146.68 million during the quarter, compared to analysts' expectations of $140.98 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%. As a group, equities analysts predict that Tetra Technologies, Inc. will post 0.15 EPS for the current 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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