Huber Capital Management LLC Sells 445,000 Shares of Tetra Technologies, Inc. $TTI

Huber Capital Management LLC cut its position in Tetra Technologies, Inc. (NYSE:TTI) by 30.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,008,680 shares of the oil and gas company’s stock after selling 445,000 shares during the quarter. Tetra Technologies comprises about 1.4% of Huber Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Huber Capital Management LLC owned approximately 0.75% of Tetra Technologies worth $9,451,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Landscape Capital Management L.L.C. bought a new stake in Tetra Technologies in the 4th quarter valued at $163,000. Brant Point Investment Management LLC bought a new stake in Tetra Technologies in the 4th quarter valued at $3,186,000. CANADA LIFE ASSURANCE Co bought a new stake in Tetra Technologies in the 4th quarter valued at $121,000. Williams Jones Wealth Management LLC. bought a new stake in Tetra Technologies in the 4th quarter valued at $244,000. Finally, First Trust Advisors LP boosted its stake in Tetra Technologies by 2.8% in the 4th quarter. First Trust Advisors LP now owns 422,838 shares of the oil and gas company’s stock valued at $3,962,000 after purchasing an additional 11,696 shares during the period. 70.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.25.

Tetra Technologies Stock Performance

NYSE:TTI opened at $10.39 on Friday. The stock has a fifty day moving average price of $9.69 and a 200-day moving average price of $9.65. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 207.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. Tetra Technologies, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $12.54.

Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. As a group, equities analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at Tetra Technologies

In related news, VP Kurt Hallead bought 22,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the transaction, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. The trade was a 14.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.27% of the company’s stock.

Tetra Technologies 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.