Icon Advisers Inc. Co. Sells 200,000 Shares of Tetra Technologies, Inc. $TTI

Icon Advisers Inc. Co. cut its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,500,000 shares of the oil and gas company’s stock after selling 200,000 shares during the quarter. Tetra Technologies comprises 2.0% of Icon Advisers Inc. Co.’s portfolio, making the stock its 5th largest position. Icon Advisers Inc. Co.’s holdings in Tetra Technologies were worth $8,625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TTI. Pullen Investment Management LLC lifted its stake in shares of Tetra Technologies by 16.4% in the 3rd quarter. Pullen Investment Management LLC now owns 695,165 shares of the oil and gas company’s stock valued at $3,997,000 after purchasing an additional 97,937 shares during the period. Squarepoint Ops LLC grew its stake in shares of Tetra Technologies by 114.0% during the second quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company’s stock worth $1,826,000 after purchasing an additional 289,456 shares during the period. Acuitas Investments LLC acquired a new stake in shares of Tetra Technologies during the third quarter worth $6,787,000. Principal Financial Group Inc. bought a new stake in Tetra Technologies in the third quarter valued at about $567,000. Finally, American Century Companies Inc. increased its holdings in Tetra Technologies by 15.5% in the second quarter. American Century Companies Inc. now owns 3,001,941 shares of the oil and gas company’s stock valued at $10,087,000 after purchasing an additional 402,495 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

Tetra Technologies Stock Performance

Shares of Tetra Technologies stock opened at $8.14 on Friday. The company has a market capitalization of $1.09 billion, a PE ratio of 407.00 and a beta of 1.20. Tetra Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $12.54. The company has a current ratio of 2.02, a quick ratio of 1.28 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $10.61 and its 200 day simple moving average is $8.10.

Tetra Technologies (NYSE:TTI) last posted its 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 net margin of 0.48% and a return on equity of 12.56%. The business had revenue of $146.68 million during the quarter, compared to analyst estimates of $140.98 million. On average, research analysts predict that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Northland Securities raised their target price on Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. Clear Str lowered Tetra Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. CJS Securities started coverage on Tetra Technologies in a research note on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price target for the company. Stifel Nicolaus increased their price target on shares of Tetra Technologies from $9.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

About Tetra Technologies

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.