Tetra Technologies (NYSE:TTI) Releases Quarterly Earnings Results, Hits Estimates

Tetra Technologies (NYSE:TTI) issued its quarterly earnings data on Monday. The oil and gas company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08, Zacks reports. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.

Tetra Technologies Stock Performance

TTI traded up $0.11 during trading hours on Monday, hitting $7.81. 1,752,980 shares of the stock were exchanged, compared to its average volume of 1,798,151. The stock has a 50-day simple moving average of $9.64 and a 200-day simple moving average of $9.76. Tetra Technologies has a 12 month low of $3.82 and a 12 month high of $12.54. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 156.23 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20.

Insider Buying and Selling at Tetra Technologies

In other news, CEO Brady M. Murphy sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total value of $536,000.00. Following the transaction, the chief executive officer directly owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kurt Hallead purchased 22,000 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the vice president directly owned 170,764 shares in the company, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their position. The disclosure for this purchase is available in the SEC filing. 6.27% of the stock is owned by insiders.

Institutional Investors Weigh In On Tetra Technologies

Several institutional investors and hedge funds have recently bought and sold shares of TTI. Aster Capital Management DIFC Ltd acquired a new position in Tetra Technologies in the fourth quarter valued at approximately $33,000. State of Wyoming raised 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 purchasing an additional 1,834 shares during the period. Xponance LLC bought a new stake in shares of Tetra Technologies in the 4th quarter worth approximately $94,000. CIBC Asset Management Inc bought a new stake in shares of Tetra Technologies in the 4th quarter worth approximately $97,000. Finally, nVerses Capital LLC acquired a new position in Tetra Technologies during the 4th quarter valued at approximately $99,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Analysts Set New Price Targets

TTI has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Northland Securities boosted their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Tetra Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

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.