HITE Hedge Asset Management LLC Reduces Position in Tetra Technologies, Inc. $TTI

HITE Hedge Asset Management LLC cut its position in Tetra Technologies, Inc. (NYSE:TTI) by 32.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 571,133 shares of the oil and gas company’s stock after selling 269,756 shares during the period. HITE Hedge Asset Management LLC owned 0.43% of Tetra Technologies worth $5,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. MetLife Investment Management LLC increased its position in shares of Tetra Technologies by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 72,379 shares of the oil and gas company’s stock valued at $678,000 after purchasing an additional 5,786 shares during the last quarter. Hilton Capital Management LLC increased its position in shares of Tetra Technologies by 39.6% in the 4th quarter. Hilton Capital Management LLC now owns 312,317 shares of the oil and gas company’s stock valued at $2,926,000 after purchasing an additional 88,554 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Tetra Technologies by 200.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 327,894 shares of the oil and gas company’s stock valued at $3,072,000 after purchasing an additional 218,824 shares during the last quarter. Informed Momentum Co LLC acquired a new position in shares of Tetra Technologies in the 4th quarter valued at $6,550,000. Finally, Swiss National Bank acquired a new position in shares of Tetra Technologies in the 4th quarter valued at $2,340,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Kurt Hallead bought 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president owned 170,764 shares in the company, valued at approximately $1,683,733.04. This represents a 14.79% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.27% of the company’s stock.

Tetra Technologies Trading Down 0.6%

Shares of Tetra Technologies stock opened at $10.39 on Friday. The company has a fifty day simple moving average of $9.69 and a 200-day simple moving average of $9.65. Tetra Technologies, Inc. has a 12-month low of $3.17 and a 12-month high of $12.54. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 207.74 and a beta of 1.22.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $151.20 million. On average, equities analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Tetra Technologies presently has an average 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.