Rice Hall James & Associates LLC Takes Position in Tetra Technologies, Inc. $TTI

Rice Hall James & Associates LLC bought a new position in Tetra Technologies, Inc. (NYSE:TTI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,067,906 shares of the oil and gas company’s stock, valued at approximately $12,099,000. Rice Hall James & Associates LLC owned about 0.80% of Tetra Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in TTI. KBC Group NV acquired a new position in Tetra Technologies in the first quarter valued at about $27,000. Aster Capital Management DIFC Ltd bought a new stake in Tetra Technologies during the fourth quarter worth about $33,000. Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $45,000. Generali Investments Management Co LLC acquired a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $54,000. Finally, Allworth Financial LP raised its stake in shares of Tetra Technologies by 219.3% in the fourth quarter. Allworth Financial LP now owns 6,009 shares of the oil and gas company’s stock valued at $56,000 after acquiring an additional 4,127 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

Tetra Technologies Stock Down 1.5%

Shares of NYSE:TTI opened at $8.42 on Tuesday. Tetra Technologies, Inc. has a 12 month low of $3.89 and a 12 month high of $12.54. The firm has a market cap of $1.25 billion, a P/E ratio of 210.55 and a beta of 1.25. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The company’s 50-day moving average price is $9.26 and its two-hundred day moving average price is $9.53.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, meeting the consensus estimate of $0.08. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The business had revenue of $185.66 million for the quarter, compared to analysts’ expectations of $176.16 million. During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, research analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TTI has been the topic of several recent analyst reports. Northland Securities boosted their target price on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.83.

Insiders Place Their Bets

In other news, VP Kurt Hallead acquired 22,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, with a total value of $216,920.00. Following the acquisition, the vice president owned 170,764 shares of the company’s stock, valued at $1,683,733.04. This trade represents a 14.79% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total transaction of $536,000.00. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.27% 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.