Legato Capital Management LLC Reduces Stock Holdings in TETRA Technologies, Inc. (NYSE:TTI)

Legato Capital Management LLC reduced its stake in TETRA Technologies, Inc. (NYSE:TTI) by 23.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,501 shares of the oil and gas company’s stock after selling 69,951 shares during the period. Legato Capital Management LLC owned 0.17% of TETRA Technologies worth $811,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in TETRA Technologies by 233.2% in the third quarter. JPMorgan Chase & Co. now owns 510,705 shares of the oil and gas company’s stock valued at $1,583,000 after purchasing an additional 357,455 shares during the last quarter. Walleye Capital LLC purchased a new position in TETRA Technologies in the third quarter valued at approximately $418,000. Barclays PLC increased its stake in TETRA Technologies by 369.6% in the third quarter. Barclays PLC now owns 209,873 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 165,184 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in TETRA Technologies by 57.9% in the third quarter. Stanley Laman Group Ltd. now owns 1,401,932 shares of the oil and gas company’s stock valued at $4,346,000 after purchasing an additional 514,054 shares during the last quarter. Finally, Pullen Investment Management LLC purchased a new position in TETRA Technologies in the third quarter valued at approximately $766,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

TETRA Technologies Price Performance

Shares of NYSE TTI opened at $4.48 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.33 and a quick ratio of 1.51. The stock has a fifty day moving average price of $4.04 and a 200 day moving average price of $3.58. TETRA Technologies, Inc. has a 1-year low of $2.68 and a 1-year high of $5.12. The company has a market cap of $589.85 million, a PE ratio of 223.86 and a beta of 2.04.

Analyst Upgrades and Downgrades

TTI has been the subject of several research analyst reports. D. Boral Capital reissued a “buy” rating and issued a $5.50 price objective on shares of TETRA Technologies in a report on Wednesday, January 8th. EF Hutton Acquisition Co. I raised TETRA Technologies to a “strong-buy” rating in a report on Monday, October 21st. Finally, StockNews.com raised TETRA Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $6.50.

About TETRA Technologies

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.