OP Asset Management Ltd Invests $807,000 in Tetra Technologies, Inc. $TTI

OP Asset Management Ltd purchased a new stake in Tetra Technologies, Inc. (NYSE:TTI) in the 1st quarter, Holdings Channel.com reports. The firm purchased 94,747 shares of the oil and gas company’s stock, valued at approximately $807,000.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in Tetra Technologies in the fourth quarter worth about $33,000. Stone House Investment Management LLC bought a new position in shares of Tetra Technologies during the fourth quarter valued at approximately $39,000. Osaic Holdings Inc. raised its position in shares of Tetra Technologies by 647.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 11,000 shares during the period. Rockefeller Capital Management L.P. bought a new stake in shares of Tetra Technologies in the 4th quarter worth approximately $45,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Tetra Technologies by 235.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 10,204 shares during the last quarter. Institutional investors own 70.19% of the company’s stock.

Analysts Set New Price Targets

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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Tetra Technologies Price Performance

Shares of TTI opened at $11.40 on Tuesday. Tetra Technologies, Inc. has a one year low of $3.17 and a one year high of $12.54. The stock’s fifty day moving average is $10.10 and its 200-day moving average is $9.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 227.97 and a beta of 1.22.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. Equities analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at Tetra Technologies

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