Strs Ohio Purchases New Shares in Tetra Technologies, Inc. $TTI

Strs Ohio acquired a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) in the 1st quarter, Holdings Channel reports. The firm acquired 183,200 shares of the oil and gas company’s stock, valued at approximately $1,561,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Investing LLC lifted its holdings in shares of Tetra Technologies by 21.8% in the 1st quarter. Inspire Investing LLC now owns 60,741 shares of the oil and gas company’s stock valued at $518,000 after acquiring an additional 10,892 shares during the last quarter. Gunderson Capital Management LLC purchased a new stake in Tetra Technologies during the first quarter valued at approximately $103,000. OP Asset Management Ltd purchased a new stake in Tetra Technologies during the first quarter valued at approximately $807,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Tetra Technologies by 1.4% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,744,530 shares of the oil and gas company’s stock valued at $23,383,000 after purchasing an additional 38,155 shares during the last quarter. Finally, Diversified Trust Co lifted its stake in shares of Tetra Technologies by 9.3% in the 1st quarter. Diversified Trust Co now owns 49,655 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 4,219 shares during the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Tetra Technologies Trading Down 1.8%

TTI stock opened at $9.23 on Wednesday. Tetra Technologies, Inc. has a 12 month low of $3.17 and a 12 month high of $12.54. The firm’s 50-day moving average is $10.17 and its 200 day moving average is $9.87. The company has a market capitalization of $1.23 billion, a PE ratio of 184.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $156.25 million for 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%. On average, research analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at Tetra Technologies

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of the sale, the chief executive officer directly owned 2,965,457 shares of the company’s stock, valued at $31,789,699.04. The trade was a 1.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Kurt Hallead bought 22,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $9.86 per share, with a total value of $216,920.00. Following the completion of the acquisition, the vice president directly owned 170,764 shares in the company, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 6.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TTI shares. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Northland Securities raised their price target on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.88.

Tetra Technologies Company 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.