Cinctive Capital Management LP Has $2.68 Million Stock Position in Tetra Technologies, Inc. $TTI

Cinctive Capital Management LP increased its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 128.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 466,711 shares of the oil and gas company’s stock after acquiring an additional 262,681 shares during the period. Cinctive Capital Management LP owned about 0.35% of Tetra Technologies worth $2,684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. State of Alaska Department of Revenue acquired a new position in shares of Tetra Technologies in the 3rd quarter valued at about $28,000. Osaic Holdings Inc. grew its position in 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 valued at $43,000 after purchasing an additional 11,000 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in Tetra Technologies during the second quarter valued at approximately $44,000. American Trust acquired a new position in Tetra Technologies in the 2nd quarter valued at approximately $49,000. Finally, Tower Research Capital LLC TRC increased its stake in Tetra Technologies by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 10,204 shares during the period. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Tetra Technologies Stock Performance

TTI stock opened at $8.22 on Monday. The firm has a 50 day moving average of $10.51 and a two-hundred day moving average of $8.29. Tetra Technologies, Inc. has a 12 month low of $2.03 and a 12 month high of $12.54. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 411.00 and a beta of 1.20. The company has a quick ratio of 1.28, a current ratio of 2.02 and a debt-to-equity ratio of 0.64.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $140.98 million. As a group, equities analysts anticipate that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Ratings Changes

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