Shares of Tetra Technologies, Inc. (NYSE:TTI – Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.79 and traded as high as $10.35. Tetra Technologies shares last traded at $10.2020, with a volume of 1,599,454 shares traded.
Analysts Set New Price Targets
Separately, Weiss Ratings downgraded shares of 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.25.
Read Our Latest Report on Tetra Technologies
Tetra Technologies Stock Up 6.4%
Tetra Technologies (NYSE:TTI – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. On average, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.
Insiders Place Their Bets
In other Tetra Technologies news, VP Kurt Hallead bought 22,000 shares of Tetra Technologies stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the purchase, the vice president owned 170,764 shares of the company’s stock, valued at $1,683,733.04. The trade was a 14.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.27% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Tetra Technologies
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new position in Tetra Technologies in the 1st quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new stake in Tetra Technologies during the fourth quarter worth approximately $33,000. Stone House Investment Management LLC acquired a new stake in Tetra Technologies during the fourth quarter worth approximately $39,000. Osaic Holdings Inc. boosted its holdings in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 11,000 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $45,000. 70.19% of the stock is owned by institutional investors.
About Tetra Technologies
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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