Royce & Associates LP Acquires New Holdings in Tetra Technologies, Inc. (NYSE:TTI)

Key Points

• Royce & Associates LP has acquired a new stake in Tetra Technologies, Inc., purchasing 803,910 shares valued at approximately $2.7 million, increasing their ownership to about 0.60% of the company.
• Tetra Technologies reported a quarterly EPS of $0.11, exceeding analysts’ expectations, while revenue was slightly below estimates at $157.14 million.
• Analysts have recently revised their ratings on Tetra Technologies, with Wall Street Zen downgrading it to a "hold" rating and other firms adjusting price targets downwards.

Royce & Associates LP acquired a new stake in Tetra Technologies, Inc. (NYSE:TTI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 803,910 shares of the oil and gas company's stock, valued at approximately $2,701,000. Royce & Associates LP owned approximately 0.60% of Tetra Technologies at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TTI. Dimensional Fund Advisors LP grew its position in shares of Tetra Technologies by 7.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,259,133 shares of the oil and gas company's stock valued at $11,667,000 after acquiring an additional 239,052 shares during the period. Geode Capital Management LLC grew its holdings in Tetra Technologies by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,741,804 shares of the oil and gas company's stock worth $9,818,000 after purchasing an additional 13,769 shares during the period. American Century Companies Inc. grew its holdings in Tetra Technologies by 36.3% during the fourth quarter. American Century Companies Inc. now owns 1,734,653 shares of the oil and gas company's stock worth $6,210,000 after purchasing an additional 462,213 shares during the period. WealthTrust Axiom LLC grew its holdings in Tetra Technologies by 4.0% during the fourth quarter. WealthTrust Axiom LLC now owns 1,697,050 shares of the oil and gas company's stock worth $6,075,000 after purchasing an additional 64,824 shares during the period. Finally, HITE Hedge Asset Management LLC grew its holdings in Tetra Technologies by 32.7% during the fourth quarter. HITE Hedge Asset Management LLC now owns 1,681,509 shares of the oil and gas company's stock worth $6,020,000 after purchasing an additional 414,640 shares during the period. Institutional investors own 70.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TTI. Stifel Nicolaus reduced their target price on Tetra Technologies from $6.50 to $6.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Wall Street Zen cut shares of Tetra Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, D. Boral Capital lifted their price objective on shares of Tetra Technologies from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Thursday.

Tetra Technologies Price Performance

Shares of TTI stock traded up $0.18 during trading on Thursday, hitting $4.09. The company had a trading volume of 618,397 shares, compared to its average volume of 1,442,292. The stock's 50-day moving average price is $3.34 and its 200 day moving average price is $3.43. The firm has a market capitalization of $543.59 million, a P/E ratio of 4.75 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.61 and a current ratio of 2.54. 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 issued its quarterly earnings results on Tuesday, July 29th. The oil and gas company reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Tetra Technologies had a net margin of 18.95% and a return on equity of 15.07%. The company had revenue of $173.87 million during the quarter, compared to the consensus estimate of $172.46 million. Equities analysts expect that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Tetra Technologies Company Profile

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.