Edgestream Partners L.P. Takes $2.87 Million Position in Tetra Technologies, Inc. $TTI

Edgestream Partners L.P. bought a new stake in Tetra Technologies, Inc. (NYSE:TTI) in the first quarter, HoldingsChannel.com reports. The fund bought 337,268 shares of the oil and gas company’s stock, valued at approximately $2,874,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KBC Group NV bought a new stake in Tetra Technologies in the first quarter worth $27,000. Aster Capital Management DIFC Ltd bought a new position in Tetra Technologies during the fourth quarter valued at $33,000. Stone House Investment Management LLC bought a new position in Tetra Technologies during the fourth quarter valued at $39,000. Osaic Holdings Inc. grew its stake in shares of Tetra Technologies by 647.1% in the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock worth $43,000 after buying an additional 11,000 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in shares of Tetra Technologies in the 4th quarter worth $45,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

Tetra Technologies Stock Performance

NYSE TTI opened at $7.70 on Friday. The business’s 50 day moving average price is $9.64 and its 200-day moving average price is $9.76. Tetra Technologies, Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $12.54. The company has a market cap of $1.02 billion, a P/E ratio of 153.95 and a beta of 1.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $156.25 million during the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. Sell-side analysts predict that Tetra Technologies, Inc. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

TTI has been the topic of a number of research reports. Northland Securities boosted their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings raised shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Tetra Technologies currently has a consensus 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 business’s stock in a transaction on Tuesday, June 9th. The shares were acquired at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were 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. This represents a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.27% of the company’s stock.

About Tetra Technologies

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.