Needham Investment Management LLC Has $22.25 Million Holdings in Tetra Technologies, Inc. $TTI

Needham Investment Management LLC grew its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 55.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,375,000 shares of the oil and gas company’s stock after acquiring an additional 850,000 shares during the quarter. Tetra Technologies accounts for 1.4% of Needham Investment Management LLC’s portfolio, making the stock its 20th largest holding. Needham Investment Management LLC owned approximately 1.78% of Tetra Technologies worth $22,254,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TTI. Stone House Investment Management LLC bought a new stake in Tetra Technologies during the fourth quarter worth about $39,000. Osaic Holdings Inc. boosted its position in shares of Tetra Technologies by 647.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Tetra Technologies by 235.5% in the second 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. Brevan Howard Capital Management LP bought a new position in Tetra Technologies during the second quarter worth about $51,000. Finally, Generali Investments Management Co LLC acquired a new position in shares of Tetra Technologies during the 4th quarter worth about $54,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Kurt Hallead bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.27% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Stock Down 2.5%

Shares of TTI stock opened at $10.14 on Tuesday. Tetra Technologies, Inc. has a 12-month low of $3.17 and a 12-month high of $12.54. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $9.72 and a 200-day moving average of $9.68. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 202.88 and a beta of 1.22.

Tetra Technologies (NYSE:TTI) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. As a group, equities research analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.