Tetra Technologies (NYSE:TTI) Shares Down 5.6% – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI) shares traded down 5.6% on Tuesday . The company traded as low as $6.47 and last traded at $6.5120. 700,350 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 1,788,416 shares. The stock had previously closed at $6.90.

Analyst Upgrades and Downgrades

TTI has been the topic of a number of analyst reports. Northland Securities set a $10.00 price objective on Tetra Technologies in a research report on Tuesday. Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.50.

Tetra Technologies Trading Down 4.2%

The company has a 50 day moving average of $8.64 and a 200-day moving average of $9.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46. The stock has a market cap of $978.74 million, a price-to-earnings ratio of 165.29 and a beta of 1.25.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $185.66 million during the quarter, compared to analysts’ expectations of $176.16 million. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. During the same quarter last year, the company posted $0.08 EPS. On average, research analysts anticipate that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other news, CEO Brady M. Murphy sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total value 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. The trade was a 1.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kurt Hallead acquired 22,000 shares of Tetra Technologies stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $9.86 per share, with a total value of $216,920.00. Following the purchase, the vice president owned 170,764 shares of the company’s stock, valued at $1,683,733.04. The trade was a 14.79% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. F m Investments LLC acquired a new stake in shares of Tetra Technologies in the 4th quarter worth $958,000. Ranger Investment Management L.P. acquired a new position in shares of Tetra Technologies during the second quarter worth about $5,190,000. BlackRock Inc. acquired a new position in shares of Tetra Technologies during the second quarter worth about $138,491,000. SIR Capital Management L.P. purchased a new position in Tetra Technologies during the second quarter worth about $1,810,000. Finally, Edgestream Partners L.P. acquired a new stake in Tetra Technologies in the first quarter valued at about $2,874,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

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.