Crown Advisors Management Inc. Purchases Shares of 125,000 Tetra Technologies, Inc. $TTI

Crown Advisors Management Inc. purchased a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) during the 2nd quarter, HoldingsChannel reports. The fund purchased 125,000 shares of the oil and gas company’s stock, valued at approximately $3,611,000. Tetra Technologies accounts for 2.0% of Crown Advisors Management Inc.’s investment portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. F m Investments LLC bought a new position in Tetra Technologies during the fourth quarter valued at about $958,000. Edgestream Partners L.P. bought a new stake in Tetra Technologies in the first quarter worth about $2,874,000. Heartland Advisors Inc. lifted its holdings in Tetra Technologies by 69.0% in the 1st quarter. Heartland Advisors Inc. now owns 613,800 shares of the oil and gas company’s stock valued at $5,230,000 after acquiring an additional 250,650 shares during the last quarter. Encompass Capital Advisors LLC lifted its holdings in Tetra Technologies by 10.7% in the 1st quarter. Encompass Capital Advisors LLC now owns 3,201,953 shares of the oil and gas company’s stock valued at $27,281,000 after acquiring an additional 310,363 shares during the last quarter. Finally, Sei Investments Co. boosted its position in shares of Tetra Technologies by 71.0% during the 1st quarter. Sei Investments Co. now owns 438,084 shares of the oil and gas company’s stock valued at $3,732,000 after purchasing an additional 181,872 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.

Tetra Technologies Stock Down 0.5%

TTI stock opened at $8.51 on Monday. Tetra Technologies, Inc. has a 52-week low of $3.88 and a 52-week high of $12.54. The company’s 50 day simple moving average is $9.29 and its 200-day simple moving average is $9.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. The firm has a market capitalization of $1.26 billion, a P/E ratio of 212.73 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. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The business had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Northland Securities increased their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.83.

Insiders Place Their Bets

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

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.