Heartland Advisors Inc. acquired a new stake in Tetra Technologies, Inc. (NYSE:TTI – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,000,100 shares of the oil and gas company’s stock, valued at approximately $11,331,000.
Several other hedge funds have also modified their holdings of TTI. BlackRock Inc. purchased a new position in Tetra Technologies in the second quarter valued at $138,491,000. Vanguard Group Inc. increased its holdings in Tetra Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after purchasing an additional 174,028 shares during the period. Rubric Capital Management LP acquired a new stake in Tetra Technologies in the 3rd quarter valued at about $26,046,000. Dimensional Fund Advisors LP raised its position in Tetra Technologies by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock valued at $25,414,000 after purchasing an additional 72,338 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Tetra Technologies by 11.2% in the 4th quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock valued at $32,541,000 after buying an additional 350,051 shares during the period. 70.19% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on TTI. Northland Securities boosted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tetra Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.
Insider Transactions at Tetra Technologies
In other Tetra Technologies news, VP Kurt Hallead acquired 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. The trade was a 14.79% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total value of $536,000.00. Following the transaction, the chief executive officer directly owned 2,965,457 shares of the company’s stock, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.27% of the stock is owned by insiders.
Tetra Technologies Price Performance
Tetra Technologies stock opened at $7.19 on Friday. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.43. The company has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $9.43. The stock has a market cap of $1.06 billion, a P/E ratio of 179.79 and a beta of 1.25. Tetra Technologies, Inc. has a 12-month low of $4.24 and a 12-month high of $12.54.
Tetra Technologies (NYSE:TTI – Get Free Report) last posted its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The firm had revenue of $185.66 million for the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same quarter in the prior year, the company posted $0.08 earnings per share. Equities analysts expect that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.
Tetra Technologies 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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