Tetra Technologies, Inc. (NYSE:TTI – Get Free Report) shares fell 9% on Wednesday . The company traded as low as $10.38 and last traded at $10.3150. 1,044,978 shares changed hands during trading, a decline of 42% from the average session volume of 1,815,021 shares. The stock had previously closed at $11.33.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on TTI shares. Northland Securities upped their target price on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings downgraded 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 stock. According to data from MarketBeat, Tetra Technologies currently has an average rating of “Moderate Buy” and an average target price of $10.88.
View Our Latest Stock Analysis on TTI
Tetra Technologies Price Performance
Tetra Technologies (NYSE:TTI – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $156.25 million during 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%. On average, equities research analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.
Insider Transactions at Tetra Technologies
In other Tetra Technologies news, VP Kurt Hallead purchased 22,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $9.86 per share, with a total value of $216,920.00. Following the purchase, the vice president owned 170,764 shares in the company, valued at approximately $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 6.27% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Tetra Technologies by 2.1% in the third quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after acquiring an additional 174,028 shares during the last quarter. Rubric Capital Management LP acquired a new position in Tetra Technologies during the third quarter worth approximately $26,046,000. Dimensional Fund Advisors LP increased its position in Tetra Technologies by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after purchasing an additional 72,338 shares during the last quarter. State Street Corp raised its stake in Tetra Technologies by 11.2% during the fourth quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock worth $32,541,000 after purchasing an additional 350,051 shares during the period. Finally, American Century Companies Inc. raised its stake in Tetra Technologies by 13.8% during the third quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock worth $19,642,000 after purchasing an additional 414,076 shares during the period. 70.19% of the stock is currently owned by hedge funds and other institutional investors.
Tetra Technologies Company 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.
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