91,704 Shares in Tetra Technologies, Inc. $TTI Acquired by Fifth Third Bancorp

Fifth Third Bancorp acquired a new stake in Tetra Technologies, Inc. (NYSE:TTI) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 91,704 shares of the oil and gas company’s stock, valued at approximately $781,000. Fifth Third Bancorp owned about 0.07% of Tetra Technologies as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV grew its holdings in shares of Tetra Technologies by 5.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company’s stock worth $233,000 after buying an additional 1,272 shares in the last quarter. ProShare Advisors LLC grew its stake in Tetra Technologies by 6.7% during the 4th quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock valued at $217,000 after acquiring an additional 1,452 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in 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 valued at $58,000 after acquiring an additional 1,473 shares in the last quarter. LPL Financial LLC raised its holdings in Tetra Technologies by 9.7% in the 4th quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company’s stock valued at $184,000 after acquiring an additional 1,739 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Tetra Technologies by 2.5% in the 3rd quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock valued at $421,000 after acquiring an additional 1,754 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Insider Buying and Selling

In other news, VP Kurt Hallead purchased 22,000 shares of Tetra Technologies stock in a transaction dated Tuesday, June 9th. The shares were purchased 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 in the company, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $536,000.00. Following the completion of the transaction, the chief executive officer owned 2,965,457 shares in the company, valued at $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.27% of the stock is owned by company insiders.

Tetra Technologies Price Performance

Tetra Technologies stock opened at $7.66 on Tuesday. Tetra Technologies, Inc. has a 12-month low of $3.64 and a 12-month high of $12.54. The stock has a market cap of $1.02 billion, a P/E ratio of 153.19 and a beta of 1.19. The company has a 50-day moving average price of $9.87 and a 200 day moving average price of $9.83. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62.

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

Wall Street Analysts Forecast Growth

TTI has been the topic of several recent research reports. Northland Securities boosted their target price on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.88.

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.