TETRA Technologies, Inc. (NYSE:TTI) Shares Bought by Ovata Capital Management Ltd

Ovata Capital Management Ltd lifted its stake in TETRA Technologies, Inc. (NYSE:TTI) by 33.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,000,000 shares of the oil and gas company’s stock after buying an additional 250,000 shares during the quarter. TETRA Technologies makes up 1.4% of Ovata Capital Management Ltd’s holdings, making the stock its 19th largest position. Ovata Capital Management Ltd owned about 0.76% of TETRA Technologies worth $3,580,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC purchased a new stake in TETRA Technologies in the 3rd quarter worth approximately $36,000. KLCM Advisors Inc. purchased a new stake in TETRA Technologies during the fourth quarter worth $36,000. HighTower Advisors LLC acquired a new stake in TETRA Technologies during the fourth quarter valued at $39,000. Cibc World Markets Corp acquired a new stake in TETRA Technologies during the fourth quarter valued at $42,000. Finally, M&T Bank Corp purchased a new position in TETRA Technologies in the fourth quarter valued at $53,000. 70.19% of the stock is owned by institutional investors and hedge funds.

TETRA Technologies Trading Down 17.1 %

Shares of NYSE:TTI opened at $2.51 on Friday. The business’s 50 day moving average price is $3.82 and its 200-day moving average price is $3.70. TETRA Technologies, Inc. has a 1 year low of $2.40 and a 1 year high of $5.12. The firm has a market capitalization of $331.65 million, a price-to-earnings ratio of 125.31 and a beta of 2.04. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51.

TETRA Technologies (NYSE:TTI) last released its earnings results on Tuesday, February 25th. The oil and gas company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. TETRA Technologies had a net margin of 0.27% and a return on equity of 14.53%. The business had revenue of $134.50 million during the quarter, compared to analysts’ expectations of $138.96 million. On average, equities research analysts forecast that TETRA Technologies, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, D. Boral Capital restated a “buy” rating and set a $5.50 target price on shares of TETRA Technologies in a research report on Wednesday, March 26th.

TETRA Technologies Company Profile

TETRA Technologies, Inc, together with its subsidiaries, operates as an energy services and solutions company. It operates through two segments, Completion Fluids & Products Division and Water & Flowback Services. The Completion Fluids & Products segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.