Fifth Third Bancorp Acquires New Holdings in Tetra Technologies, Inc. $TTI

Fifth Third Bancorp bought a new stake in Tetra Technologies, Inc. (NYSE:TTI) during the first quarter, Holdings Channel.com reports. The institutional investor bought 91,704 shares of the oil and gas company’s stock, valued at approximately $781,000.

Several other hedge funds also recently bought and sold shares of TTI. Aster Capital Management DIFC Ltd purchased a new stake in shares of Tetra Technologies in the 4th quarter valued at approximately $33,000. Stone House Investment Management LLC purchased a new position in shares of Tetra Technologies during the 4th quarter worth approximately $39,000. Osaic Holdings Inc. boosted its position in shares of Tetra Technologies by 647.1% during the 2nd 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. Rockefeller Capital Management L.P. acquired a new stake in Tetra Technologies in the 4th quarter valued at approximately $45,000. Finally, Tower Research Capital LLC TRC increased its holdings in Tetra Technologies by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 10,204 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings upgraded Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Northland Securities lifted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.88.

Insider Buying and Selling

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the 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 sale, the chief executive officer directly owned 2,965,457 shares in the company, valued at $31,789,699.04. This represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kurt Hallead purchased 22,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average cost of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president directly owned 170,764 shares in the company, valued at $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 6.27% of the stock is owned by corporate insiders.

Tetra Technologies Stock Down 7.8%

Shares of TTI opened at $7.66 on Tuesday. The stock has a market capitalization of $1.02 billion, a PE ratio of 153.19 and a beta of 1.19. Tetra Technologies, Inc. has a 1 year low of $3.64 and a 1 year high of $12.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The company’s 50-day simple moving average is $9.87 and its 200-day simple moving average is $9.83.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. Analysts forecast that Tetra Technologies, Inc. will post 0.27 earnings per share for the current fiscal 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.