Brant Point Investment Management LLC Invests $3.19 Million in Tetra Technologies, Inc. $TTI

Brant Point Investment Management LLC purchased a new position in shares of Tetra Technologies, Inc. (NYSE:TTI) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 340,000 shares of the oil and gas company’s stock, valued at approximately $3,186,000.

A number of other large investors also recently modified their holdings of the business. Stone House Investment Management LLC bought a new stake in shares of Tetra Technologies during the fourth quarter valued at approximately $39,000. Osaic Holdings Inc. increased its position in shares of 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 during the period. Tower Research Capital LLC TRC increased its position in shares of Tetra Technologies by 235.5% during 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 purchasing an additional 10,204 shares during the period. Brevan Howard Capital Management LP bought a new stake in shares of Tetra Technologies during the second quarter valued at approximately $51,000. Finally, Generali Investments Management Co LLC bought a new stake in shares of Tetra Technologies during the fourth quarter valued at approximately $54,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Kurt Hallead purchased 22,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.27% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. 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 currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Performance

TTI opened at $10.39 on Friday. The stock has a market cap of $1.38 billion, a PE ratio of 207.74 and a beta of 1.22. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. Tetra Technologies, Inc. has a 1 year low of $3.17 and a 1 year high of $12.54. The stock’s 50 day simple moving average is $9.69 and its 200-day simple moving average is $9.65.

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

Tetra Technologies 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.