Tetra Technologies (NYSE:TTI) Shares Gap Up on Insider Buying Activity

Tetra Technologies, Inc. (NYSE:TTIGet Free Report)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $9.78, but opened at $10.19. Tetra Technologies shares last traded at $10.38, with a volume of 313,715 shares traded.

Specifically, VP Kurt Hallead purchased 22,000 shares of Tetra Technologies stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president directly 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 SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

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

Read Our Latest Report on TTI

Tetra Technologies Trading Up 6.2%

The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average is $9.57 and its 200-day moving average is $9.60. The firm has a market capitalization of $1.38 billion, a P/E ratio of 208.44 and a beta of 1.22.

Tetra Technologies (NYSE:TTIGet Free Report) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $156.25 million for the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. As a group, sell-side analysts anticipate that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tetra Technologies

A number of institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its holdings in Tetra Technologies by 87.3% in the 1st quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock valued at $405,000 after buying an additional 56,203 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Tetra Technologies by 125.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock worth $544,000 after acquiring an additional 90,001 shares during the period. Jane Street Group LLC increased its position in Tetra Technologies by 389.7% during the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock worth $756,000 after acquiring an additional 302,793 shares during the period. JPMorgan Chase & Co. raised its stake in Tetra Technologies by 0.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock valued at $1,309,000 after purchasing an additional 3,547 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Tetra Technologies by 74.4% during the 2nd quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 7,590 shares during the last quarter. 70.19% of the stock is currently owned by institutional investors.

About Tetra Technologies

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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.

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