Empowered Funds LLC Buys New Shares in Tetra Technologies, Inc. $TTI

Empowered Funds LLC purchased a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 664,214 shares of the oil and gas company’s stock, valued at approximately $7,526,000.

Several other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Tetra Technologies during the 2nd quarter worth approximately $138,491,000. Rubric Capital Management LP bought a new stake in Tetra Technologies during the third quarter worth $26,046,000. Price T Rowe Associates Inc. MD lifted its stake in Tetra Technologies by 2,392.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company’s stock valued at $28,787,000 after acquiring an additional 2,948,885 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in Tetra Technologies in the fourth quarter valued at $27,094,000. Finally, Bank of America Corp DE bought a new position in shares of Tetra Technologies in the 2nd quarter valued at about $20,103,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TTI. Northland Securities upped their target price on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.83.

Tetra Technologies Stock Up 0.1%

TTI opened at $6.82 on Monday. The stock’s fifty day simple moving average is $8.70 and its 200 day simple moving average is $9.25. Tetra Technologies, Inc. has a 1-year low of $4.61 and a 1-year high of $12.54. The stock has a market cap of $1.01 billion, a PE ratio of 170.54 and a beta of 1.25. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.43.

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

Insider Activity

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total value of $536,000.00. Following the transaction, the chief executive officer directly owned 2,965,457 shares of the company’s stock, valued at $31,789,699.04. This represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kurt Hallead acquired 22,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average price of $9.86 per share, with a total value 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 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.