TETRA Technologies (TTI) Sees Large Volume Increase

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Shares of TETRA Technologies, Inc. (NYSE:TTI) saw unusually-strong trading volume on Friday . Approximately 2,265,798 shares traded hands during trading, an increase of 185% from the previous session’s volume of 795,759 shares.The stock last traded at $2.55 and had previously closed at $2.36.

A number of research analysts have recently issued reports on TTI shares. Johnson Rice downgraded shares of TETRA Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 19th. Zacks Investment Research upgraded shares of TETRA Technologies from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Raymond James downgraded shares of TETRA Technologies from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.10.

The stock has a market capitalization of $296.48 million, a PE ratio of -51.00 and a beta of 1.59. The company has a current ratio of 2.00, a quick ratio of 1.28 and a debt-to-equity ratio of 2.61.

TETRA Technologies (NYSE:TTI) last issued its quarterly earnings results on Thursday, February 28th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.02. TETRA Technologies had a negative net margin of 6.44% and a negative return on equity of 2.20%.

In other news, Director Thomas R. Bates, Jr. purchased 100,000 shares of the company’s stock in a transaction dated Wednesday, December 26th. The shares were purchased at an average price of $1.34 per share, for a total transaction of $134,000.00. Following the transaction, the director now owns 243,044 shares of the company’s stock, valued at $325,678.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.69% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in shares of TETRA Technologies by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 1,261,576 shares of the oil and gas company’s stock valued at $2,119,000 after acquiring an additional 68,288 shares during the period. FMR LLC lifted its position in shares of TETRA Technologies by 103.3% during the 4th quarter. FMR LLC now owns 2,554,461 shares of the oil and gas company’s stock valued at $4,291,000 after acquiring an additional 1,298,000 shares during the period. Amalgamated Bank acquired a new position in shares of TETRA Technologies during the 4th quarter valued at $32,000. Municipal Employees Retirement System of Michigan acquired a new position in shares of TETRA Technologies during the 4th quarter valued at $59,000. Finally, Paloma Partners Management Co lifted its position in shares of TETRA Technologies by 946.7% during the 4th quarter. Paloma Partners Management Co now owns 159,100 shares of the oil and gas company’s stock valued at $267,000 after acquiring an additional 143,900 shares during the period. Institutional investors own 83.16% of the company’s stock.

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About TETRA Technologies (NYSE:TTI)

TETRA Technologies, Inc, together with its subsidiaries, operates as a diversified oil and gas services company. The company's Completion Fluids segment manufactures and markets clear brine fluids, additives, and associated products and services to the oil and gas industry for use in well drilling, completion, and workover operations in the United States, as well as in Latin America, Europe, Asia, the Middle East, and Africa.

Further Reading: Rule of 72

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