Icon Advisers Inc. Co. Sells 200,000 Shares of Tetra Technologies, Inc. $TTI

Key Points

• Icon Advisers Inc. Co. sold 200,000 shares of Tetra Technologies in Q3, trimming its stake by 11.8% to 1.5 million shares worth $8.625 million, making Tetra its 6th-largest holding (~1.9% of the portfolio).
• Tetra (NYSE:TTI) opened at $8.14 (down 3.4%), has a market cap of $1.09 billion, a P/E of 407, 50‑day/200‑day moving averages of $10.61/$8.10, and a 12‑month range of $2.03–$12.54.
• The company reported quarterly EPS of $0.02 (missing the $0.03 consensus) while revenue of $146.7M beat estimates, and analysts hold a consensus Moderate Buy with a $10.25 target (4 Buys, 2 Holds).

Icon Advisers Inc. Co. decreased its position in Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 11.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,500,000 shares of the oil and gas company's stock after selling 200,000 shares during the period. Tetra Technologies comprises 1.9% of Icon Advisers Inc. Co.'s investment portfolio, making the stock its 6th biggest position. Icon Advisers Inc. Co. owned approximately 1.12% of Tetra Technologies worth $8,625,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TTI. Sei Investments Co. lifted its holdings in Tetra Technologies by 2.5% during the third quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company's stock valued at $421,000 after purchasing an additional 1,754 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Tetra Technologies by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company's stock worth $1,309,000 after purchasing an additional 3,547 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Tetra Technologies by 7.8% in 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 in the last quarter. Profund Advisors LLC increased its holdings in shares of 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 valued at $107,000 after purchasing an additional 4,223 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in Tetra Technologies during the third quarter worth approximately $28,000. 70.19% of the stock is owned by institutional investors and hedge funds.

Tetra Technologies Stock Down 3.4%

Shares of NYSE:TTI opened at $8.14 on Friday. The business has a 50-day moving average price of $10.61 and a 200 day moving average price of $8.10. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 407.00 and a beta of 1.20. Tetra Technologies, Inc. has a 12-month low of $2.03 and a 12-month high of $12.54.

Tetra Technologies (NYSE:TTI - Get Free Report) last posted its 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 company had revenue of $146.68 million during the quarter, compared to analyst estimates of $140.98 million. Tetra Technologies had a net margin of 0.48% and a return on equity of 12.56%. Sell-side analysts expect that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

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

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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