Marathon Capital Management Reduces Holdings in Tetra Technologies, Inc. $TTI

Marathon Capital Management reduced its stake in shares of Tetra Technologies, Inc. (NYSE:TTI) by 5.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,272,025 shares of the oil and gas company’s stock after selling 69,620 shares during the quarter. Tetra Technologies comprises approximately 1.7% of Marathon Capital Management’s portfolio, making the stock its 15th largest holding. Marathon Capital Management owned about 0.95% of Tetra Technologies worth $7,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pullen Investment Management LLC increased its position in shares of Tetra Technologies by 16.4% during the third quarter. Pullen Investment Management LLC now owns 695,165 shares of the oil and gas company’s stock worth $3,997,000 after purchasing an additional 97,937 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Tetra Technologies by 114.0% in the 2nd quarter. Squarepoint Ops LLC now owns 543,448 shares of the oil and gas company’s stock valued at $1,826,000 after purchasing an additional 289,456 shares during the period. American Century Companies Inc. boosted its position in shares of Tetra Technologies by 13.8% in the 3rd quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock valued at $19,642,000 after purchasing an additional 414,076 shares during the period. Principal Financial Group Inc. purchased a new position in Tetra Technologies during the 3rd quarter worth approximately $567,000. Finally, Acuitas Investments LLC purchased a new position in Tetra Technologies during the 3rd quarter worth approximately $6,787,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

Tetra Technologies Stock Down 0.8%

TTI opened at $8.22 on Friday. The business has a 50 day moving average price of $10.51 and a two-hundred day moving average price of $8.24. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.10 billion, a PE ratio of 411.00 and a beta of 1.20. Tetra Technologies, Inc. has a 52 week low of $2.03 and a 52 week high of $12.54.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.01). The company had revenue of $146.68 million for the quarter, compared to analyst estimates of $140.98 million. Tetra Technologies had a return on equity of 12.56% and a net margin of 0.48%. As a group, research analysts anticipate that Tetra Technologies, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Northland Securities boosted their price objective on Tetra Technologies from $8.50 to $11.50 and gave the company an “outperform” rating in a research note 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 research 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. CJS Securities initiated coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They issued an “outperform” rating and a $11.50 price target for the company. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday, January 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, 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.