Tetra Technologies (NYSE:TTI) Shares Down 7% – Should You Sell?

Shares of Tetra Technologies, Inc. (NYSE:TTI) traded down 7% during trading on Wednesday . The stock traded as low as $7.44 and last traded at $7.4250. Approximately 1,712,070 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 1,788,794 shares. The stock had previously closed at $7.98.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Northland Securities raised their price objective 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 lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

Tetra Technologies Trading Down 6.8%

The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 185.45 and a beta of 1.25. The business’s 50-day moving average price is $9.23 and its 200 day moving average price is $9.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76.

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

Insider Activity

In other Tetra Technologies news, VP Kurt Hallead bought 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the purchase, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies 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 sale, the chief executive officer directly owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tetra Technologies

A number of institutional investors have recently made changes to their positions in TTI. Mercer Global Advisors Inc. ADV raised its position in Tetra Technologies by 5.4% in 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 purchasing an additional 1,272 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Tetra Technologies by 6.7% in the 4th quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 1,452 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Tetra Technologies by 31.1% in 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 purchasing an additional 1,473 shares during the period. LPL Financial LLC raised its holdings in shares of 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 worth $184,000 after buying an additional 1,739 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of 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 worth $421,000 after buying an additional 1,754 shares in the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.

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.