Huber Capital Management LLC Trims Stock Holdings in Tetra Technologies, Inc. $TTI

Key Points

• Huber Capital Management LLC has reduced its stake in Tetra Technologies by 4.0%, selling 76,116 shares, and now holds about 1.38% of the company valued at approximately $6.19 million.
• Several hedge funds have increased their stakes in Tetra Technologies, with Diversified Trust Co and Wells Fargo & Company expanding their holdings by 10.3% and 17.1%, respectively.
• Analyst ratings for Tetra Technologies have improved, with upgrades resulting in a target price increase to $6.50 from Stifel Nicolaus and an average target price of $5.75 across the board.

Huber Capital Management LLC decreased its stake in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,842,680 shares of the oil and gas company's stock after selling 76,116 shares during the quarter. Tetra Technologies comprises about 1.2% of Huber Capital Management LLC's investment portfolio, making the stock its 26th biggest holding. Huber Capital Management LLC owned about 1.38% of Tetra Technologies worth $6,191,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TTI. Brightline Capital Management LLC purchased a new position in Tetra Technologies during the first quarter valued at $8,921,000. American Century Companies Inc. raised its stake in Tetra Technologies by 49.9% during the first quarter. American Century Companies Inc. now owns 2,599,446 shares of the oil and gas company's stock valued at $8,734,000 after buying an additional 864,793 shares during the last quarter. Royce & Associates LP purchased a new position in shares of Tetra Technologies in the first quarter worth $2,701,000. Stifel Financial Corp raised its stake in shares of Tetra Technologies by 224.8% in the fourth quarter. Stifel Financial Corp now owns 702,895 shares of the oil and gas company's stock worth $2,516,000 after purchasing an additional 486,456 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in shares of Tetra Technologies by 45.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,289,946 shares of the oil and gas company's stock worth $4,618,000 after purchasing an additional 403,086 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company's stock.

Tetra Technologies Stock Performance

NYSE:TTI traded down $0.06 during mid-day trading on Monday, hitting $4.70. 785,680 shares of the company traded hands, compared to its average volume of 1,560,513. The firm has a market cap of $625.75 million, a price-to-earnings ratio of 5.46 and a beta of 1.39. The company has a quick ratio of 1.61, a current ratio of 2.47 and a debt-to-equity ratio of 0.62. The stock's fifty day moving average price is $3.78 and its 200-day moving average price is $3.36. Tetra Technologies, Inc. has a one year low of $2.03 and a one year high of $5.12.

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

Wall Street Analysts Forecast Growth

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

About Tetra Technologies

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.