Ranger Investment Management L.P. Acquires Shares of 458,119 Tetra Technologies, Inc. $TTI

Ranger Investment Management L.P. bought a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) during the second quarter, HoldingsChannel reports. The firm bought 458,119 shares of the oil and gas company’s stock, valued at approximately $5,190,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TTI. KBC Group NV bought a new position in shares of Tetra Technologies in the 1st quarter worth about $27,000. Allworth Financial LP bought a new stake in Tetra Technologies during the second quarter worth about $27,000. Aster Capital Management DIFC Ltd purchased a new stake in Tetra Technologies in the fourth quarter worth about $33,000. Osaic Holdings Inc. grew its holdings in Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Tetra Technologies during the fourth quarter valued at approximately $45,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tetra Technologies

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kurt Hallead bought 22,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. This trade represents a 14.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TTI shares. Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Northland Securities raised their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.83.

Tetra Technologies Stock Performance

Shares of NYSE:TTI opened at $7.19 on Monday. The company has a market cap of $1.06 billion, a P/E ratio of 179.79 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. Tetra Technologies, Inc. has a 1 year low of $4.24 and a 1 year high of $12.54. The stock’s fifty day moving average price is $9.04 and its 200-day moving average price is $9.42.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.The company had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period last year, the company earned $0.08 EPS. Sell-side analysts expect that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

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.