Norges Bank Buys Shares of 226,900 TETRA Technologies, Inc. (NYSE:TTI)

Norges Bank bought a new stake in TETRA Technologies, Inc. (NYSE:TTI - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 226,900 shares of the oil and gas company's stock, valued at approximately $812,000. Norges Bank owned about 0.17% of TETRA Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TTI. KLCM Advisors Inc. bought a new stake in TETRA Technologies in the fourth quarter valued at about $36,000. HighTower Advisors LLC bought a new stake in TETRA Technologies during the 4th quarter worth about $39,000. Cibc World Markets Corp bought a new position in TETRA Technologies in the fourth quarter valued at approximately $42,000. M&T Bank Corp bought a new position in shares of TETRA Technologies in the 4th quarter worth $53,000. Finally, FMR LLC increased its stake in shares of TETRA Technologies by 75.0% in the 3rd quarter. FMR LLC now owns 18,858 shares of the oil and gas company's stock valued at $58,000 after acquiring an additional 8,084 shares during the last quarter. Institutional investors own 70.19% of the company's stock.

TETRA Technologies Stock Performance

Shares of TETRA Technologies stock traded up $0.13 on Thursday, hitting $2.53. The stock had a trading volume of 373,752 shares, compared to its average volume of 1,200,767. TETRA Technologies, Inc. has a twelve month low of $2.03 and a twelve month high of $5.12. The company has a quick ratio of 1.51, a current ratio of 2.33 and a debt-to-equity ratio of 1.16. The stock has a market cap of $334.29 million, a price-to-earnings ratio of 126.31 and a beta of 1.54. The business's 50 day moving average is $3.42 and its two-hundred day moving average is $3.65.

TETRA Technologies (NYSE:TTI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. TETRA Technologies had a return on equity of 14.53% and a net margin of 0.27%. The business had revenue of $134.50 million during the quarter, compared to analysts' expectations of $138.96 million. Analysts forecast that TETRA Technologies, Inc. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TTI. D. Boral Capital restated a "buy" rating and set a $5.50 target price on shares of TETRA Technologies in a report on Wednesday, March 26th. Stifel Nicolaus dropped their price objective on TETRA Technologies from $7.00 to $6.50 and set a "buy" rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $6.67.

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.