Tetra Technologies (NYSE:TTI) Releases Earnings Results, Meets Estimates

Tetra Technologies (NYSE:TTI) issued its earnings results on Monday. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08, Zacks reports. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.During the same period in the previous year, the company earned $0.08 earnings per share.

Tetra Technologies Price Performance

Shares of TTI stock opened at $7.81 on Tuesday. The stock’s fifty day simple moving average is $9.59 and its 200 day simple moving average is $9.74. Tetra Technologies has a one year low of $3.82 and a one year high of $12.54. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 156.23 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TTI shares. Weiss Ratings upgraded shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Northland Securities lifted their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.83.

Insider Buying and Selling at Tetra Technologies

In related news, VP Kurt Hallead acquired 22,000 shares of the business’s stock in a transaction on 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 completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.27% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in Tetra Technologies during the 4th quarter worth approximately $33,000. State of Wyoming increased its stake in shares of Tetra Technologies by 23.3% in the fourth quarter. State of Wyoming now owns 9,703 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 1,834 shares in the last quarter. Xponance LLC bought a new position in shares of Tetra Technologies in the fourth quarter valued at about $94,000. CIBC Asset Management Inc bought a new position in shares of Tetra Technologies in the fourth quarter valued at about $97,000. Finally, nVerses Capital LLC acquired a new position in Tetra Technologies during the 4th quarter worth about $99,000. Institutional investors own 70.19% of the company’s stock.

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.