Insider Buying: Tetra Technologies (NYSE:TTI) VP Acquires 22,000 Shares of Stock

Tetra Technologies, Inc. (NYSE:TTIGet Free Report) VP Kurt Hallead acquired 22,000 shares of Tetra Technologies stock in a transaction that occurred on 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 completion of the purchase, the vice president directly owned 170,764 shares of the company’s stock, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tetra Technologies Price Performance

NYSE:TTI traded down $0.11 during trading hours on Tuesday, hitting $9.81. The company’s stock had a trading volume of 1,232,699 shares, compared to its average volume of 1,793,617. The stock has a fifty day simple moving average of $9.55 and a 200-day simple moving average of $9.58. The company has a market capitalization of $1.31 billion, a P/E ratio of 196.30 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. Tetra Technologies, Inc. has a twelve month low of $3.06 and a twelve month high of $12.54.

Tetra Technologies (NYSE:TTIGet Free Report) last released its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $156.25 million for the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. On average, analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Check Out Our Latest Analysis on Tetra Technologies

Hedge Funds Weigh In On Tetra Technologies

Several large investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV raised its position in Tetra Technologies by 5.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 1,272 shares during the last quarter. ProShare Advisors LLC raised its position in Tetra Technologies by 6.7% in the fourth quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 1,452 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Tetra Technologies by 31.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock valued at $58,000 after purchasing an additional 1,473 shares during the last quarter. LPL Financial LLC raised its position in Tetra Technologies by 9.7% in the fourth quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company’s stock valued at $184,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Sei Investments Co. raised its position in Tetra Technologies by 2.5% in the third quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock valued at $421,000 after purchasing an additional 1,754 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.

Further Reading

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