Tetra Technologies (NYSE:TTI) Issues Earnings Results, Hits Expectations

Tetra Technologies (NYSE:TTI) posted its quarterly earnings results on Monday. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08, Zacks reports. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%.

Tetra Technologies Trading Up 1.4%

Shares of Tetra Technologies stock traded up $0.11 during trading hours on Monday, hitting $7.81. The company’s stock had a trading volume of 1,752,980 shares, compared to its average volume of 1,798,151. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. The company has a market capitalization of $1.04 billion, a PE ratio of 156.23 and a beta of 1.25. The stock has a 50 day moving average of $9.64 and a 200 day moving average of $9.76. Tetra Technologies has a 12 month low of $3.82 and a 12 month high of $12.54.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TTI. Northland Securities boosted their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings raised Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.83.

Insider Buying and Selling at Tetra Technologies

In related news, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total value 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. This represents a 1.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kurt Hallead bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, for a total transaction 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 SEC filing for this purchase provides additional information. Insiders own 6.27% of the company’s stock.

Institutional Investors Weigh In On Tetra Technologies

Large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in Tetra Technologies in the fourth quarter valued at about $99,000. Bank of Nova Scotia bought a new position in Tetra Technologies during the 3rd quarter worth approximately $97,000. CIBC Asset Management Inc acquired a new stake in Tetra Technologies during the fourth quarter worth approximately $97,000. Xponance LLC bought a new stake in Tetra Technologies in the fourth quarter valued at $94,000. Finally, State of Wyoming grew its stake in Tetra Technologies by 23.3% in the fourth quarter. State of Wyoming now owns 9,703 shares of the oil and gas company’s stock valued at $91,000 after acquiring an additional 1,834 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

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.