Tetra Technologies, Inc. $TTI Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its stake in Tetra Technologies by 66.7% in Q3, selling 260,041 shares and now holds 129,565 shares (about 0.10% of the company) valued at roughly $745,000.
• Tetra's most recent quarter showed it missed EPS ($0.02 vs. $0.03 expected) but beat revenue expectations ($146.68M vs. $140.98M); the company has a $1.14B market cap and a high trailing PE of 423.10.
• Analyst sentiment is cautiously positive with a consensus "Moderate Buy" and an average target of $10.25, while institutional and hedge funds own about 70.19% of the stock and some firms recently raised targets to $11.50–$13.00.

JPMorgan Chase & Co. decreased its stake in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 66.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,565 shares of the oil and gas company's stock after selling 260,041 shares during the quarter. JPMorgan Chase & Co. owned about 0.10% of Tetra Technologies worth $745,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new stake in shares of Tetra Technologies in the third quarter worth $28,000. Osaic Holdings Inc. raised its holdings in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 11,000 shares during the last quarter. American Trust purchased a new position in shares of Tetra Technologies during the second quarter worth $49,000. Tower Research Capital LLC TRC raised its holdings in shares of Tetra Technologies by 235.5% during the second quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company's stock worth $49,000 after purchasing an additional 10,204 shares during the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Tetra Technologies during the second quarter worth $51,000. Institutional investors and hedge funds own 70.19% of the company's stock.

Tetra Technologies Stock Performance

Shares of NYSE TTI opened at $8.46 on Friday. The company's fifty day moving average price is $9.44 and its 200 day moving average price is $8.75. Tetra Technologies, Inc. has a 1 year low of $2.16 and a 1 year high of $12.54. The company has a market capitalization of $1.14 billion, a PE ratio of 423.10 and a beta of 1.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.28 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.03 by ($0.01). Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%.The firm had revenue of $146.68 million for the quarter, compared to analysts' expectations of $140.98 million. On average, research analysts predict that Tetra Technologies, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TTI shares. Northland Securities raised their target price on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an "outperform" rating in a report on Wednesday, December 31st. Stifel Nicolaus raised their target price on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a "buy" rating in a report on Monday, January 12th. Clear Str cut shares of Tetra Technologies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Tetra Technologies in a report on Friday, January 9th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $10.25.

Tetra Technologies Company 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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