WealthTrust Axiom LLC Cuts Stock Holdings in Tetra Technologies, Inc. $TTI

WealthTrust Axiom LLC lessened its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,418,912 shares of the oil and gas company’s stock after selling 224,429 shares during the period. Tetra Technologies makes up approximately 3.4% of WealthTrust Axiom LLC’s holdings, making the stock its 4th biggest holding. WealthTrust Axiom LLC’s holdings in Tetra Technologies were worth $13,295,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stone House Investment Management LLC bought a new position in Tetra Technologies in the 4th quarter valued at $39,000. Generali Investments Management Co LLC bought a new position in shares of Tetra Technologies during the 4th quarter worth $54,000. Allworth Financial LP grew its position in shares of Tetra Technologies by 219.3% during the 4th quarter. Allworth Financial LP now owns 6,009 shares of the oil and gas company’s stock worth $56,000 after buying an additional 4,127 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Tetra Technologies by 31.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock worth $58,000 after buying an additional 1,473 shares in the last quarter. Finally, State of Wyoming grew its position in shares of Tetra Technologies by 23.3% during the 4th quarter. State of Wyoming now owns 9,703 shares of the oil and gas company’s stock worth $91,000 after buying an additional 1,834 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.

Tetra Technologies Price Performance

TTI opened at $10.39 on Monday. Tetra Technologies, Inc. has a 12-month low of $3.17 and a 12-month high of $12.54. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $9.69 and its 200-day simple moving average is $9.66. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 207.74 and a beta of 1.22.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The business had revenue of $156.25 million for the quarter, compared to the consensus estimate of $151.20 million. On average, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded 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 data from MarketBeat, Tetra Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Insider Activity

In other news, VP Kurt Hallead purchased 22,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.27% 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.