Tetra Technologies (NYSE:TTI) Shares Up 12.9% – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI)’s share price shot up 12.9% during mid-day trading on Tuesday . The company traded as high as $8.73 and last traded at $8.8050. Approximately 660,114 shares were traded during mid-day trading, a decline of 63% from the average session volume of 1,789,345 shares. The stock had previously closed at $7.80.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TTI. Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Northland Securities raised their price target on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Tetra Technologies Stock Up 0.8%

The company has a current ratio of 2.46, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.13 billion, a P/E ratio of 212.70 and a beta of 1.25. The stock’s fifty day moving average price is $9.51 and its 200 day moving average price is $9.70.

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 for the quarter, meeting analysts’ consensus estimates of $0.08. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.The business had revenue of $185.66 million for the quarter, compared to the consensus estimate of $176.16 million. During the same quarter last year, the business posted $0.08 earnings per share. As a group, research analysts forecast that Tetra Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Tetra Technologies

In related news, VP Kurt Hallead bought 22,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were 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 owned 170,764 shares of the company’s stock, valued at $1,683,733.04. The trade was a 14.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their position. The SEC filing for this sale provides additional information. 6.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. F m Investments LLC purchased a new stake in shares of Tetra Technologies in the fourth quarter worth $958,000. Edgestream Partners L.P. bought a new stake in Tetra Technologies during the first quarter valued at about $2,874,000. Heartland Advisors Inc. lifted its position in shares of Tetra Technologies by 69.0% in the first 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 in the last quarter. Encompass Capital Advisors LLC boosted its stake in shares of Tetra Technologies by 10.7% in the first quarter. Encompass Capital Advisors LLC now owns 3,201,953 shares of the oil and gas company’s stock worth $27,281,000 after acquiring an additional 310,363 shares during the period. Finally, Teachers Retirement System of The State of Kentucky bought a new position in Tetra Technologies in the 4th quarter worth approximately $1,671,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

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.