Tetra Technologies (NYSE:TTI) Trading Down 7.4% – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s share price traded down 7.4% on Monday . The company traded as low as $7.71 and last traded at $7.6950. 737,809 shares were traded during trading, a decline of 58% from the average session volume of 1,762,792 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Weiss Ratings raised Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Northland Securities upped their price target on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Tetra Technologies presently has an average rating of “Moderate Buy” and an average price target of $10.88.

Tetra Technologies Trading Down 8.5%

The firm has a market cap of $1.01 billion, a P/E ratio of 152.21 and a beta of 1.19. The firm’s fifty day moving average is $9.93 and its two-hundred day moving average is $9.84. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The business had revenue of $156.25 million for the quarter, compared to the consensus estimate of $151.20 million. Analysts predict that Tetra Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Tetra Technologies

In related news, VP Kurt Hallead purchased 22,000 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,965,457 shares of the company’s stock, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP purchased a new stake in shares of Tetra Technologies in the 3rd quarter worth about $26,046,000. Price T Rowe Associates Inc. MD lifted its position in Tetra Technologies by 2,392.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company’s stock valued at $28,787,000 after acquiring an additional 2,948,885 shares during the period. Encompass Capital Advisors LLC purchased a new position in Tetra Technologies during the 4th quarter valued at about $27,094,000. Vaughan Nelson Investment Management L.P. bought a new stake in Tetra Technologies during the fourth quarter worth about $25,359,000. Finally, Wellington Management Group LLP purchased a new stake in Tetra Technologies in the fourth quarter worth about $15,773,000. Institutional investors own 70.19% of the company’s stock.

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.