Tetra Technologies, Inc. $TTI Shares Bought by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its stake in Tetra Technologies by 11% in the 1st quarter, owning approximately 0.63% of the company valued at $2.8 million.
• Tetra Technologies reported a revenue of $173.87 million for the last quarter, which exceeded analyst estimates of $172.46 million, with earnings per share matching the consensus at $0.09.
• Wall Street analysts have issued mostly positive ratings for Tetra Technologies, with an average rating of "Buy" and a consensus target price of $5.75.

Panagora Asset Management Inc. grew its holdings in Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 11.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 834,647 shares of the oil and gas company's stock after purchasing an additional 82,999 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.63% of Tetra Technologies worth $2,804,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Brightline Capital Management LLC purchased a new stake in Tetra Technologies in the 1st quarter valued at approximately $8,921,000. American Century Companies Inc. raised its holdings in shares of Tetra Technologies by 49.9% in the first quarter. American Century Companies Inc. now owns 2,599,446 shares of the oil and gas company's stock worth $8,734,000 after acquiring an additional 864,793 shares during the last quarter. Royce & Associates LP purchased a new stake in shares of Tetra Technologies in the first quarter valued at $2,701,000. D. E. Shaw & Co. Inc. lifted its position 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 valued at $4,618,000 after acquiring an additional 403,086 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Tetra Technologies by 32.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,559,054 shares of the oil and gas company's stock valued at $5,581,000 after acquiring an additional 378,488 shares during the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Tetra Technologies Stock Up 1.4%

TTI opened at $4.77 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.47 and a quick ratio of 1.61. The stock has a market capitalization of $635.08 million, a price-to-earnings ratio of 5.54 and a beta of 1.39. The business has a 50-day moving average of $3.83 and a two-hundred day moving average of $3.37. Tetra Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $5.12.

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

Wall Street Analysts Forecast Growth

TTI has been the subject of several analyst reports. Wall Street Zen raised shares of Tetra Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Stifel Nicolaus boosted their price objective on shares of Tetra Technologies from $6.00 to $6.50 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, D. Boral Capital upped their price objective on shares of Tetra Technologies from $4.00 to $5.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus 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.

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