Legal & General Group Plc Invests $1.42 Million in Tetra Technologies, Inc. $TTI

Legal & General Group Plc purchased a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 125,658 shares of the oil and gas company’s stock, valued at approximately $1,424,000. Legal & General Group Plc owned 0.08% of Tetra Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV acquired a new stake in Tetra Technologies in the first quarter worth about $27,000. Allworth Financial LP acquired a new position in Tetra Technologies during the 2nd quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in Tetra Technologies during the 4th quarter valued at about $33,000. Osaic Holdings Inc. raised its position in shares of Tetra Technologies by 647.1% during 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. bought a new stake in shares of Tetra Technologies during the 4th quarter worth about $45,000. 70.19% of the stock is currently owned by institutional investors.

Insider Transactions at Tetra Technologies

In other news, CEO Brady Murphy sold 50,000 shares of the business’s 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Kurt Hallead purchased 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president directly owned 170,764 shares in the company, valued at $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 6.27% of the company’s stock.

Tetra Technologies Stock Performance

Shares of TTI opened at $6.88 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. The firm’s 50 day moving average is $8.35 and its 200-day moving average is $9.10. Tetra Technologies, Inc. has a 12-month low of $4.61 and a 12-month high of $12.54. The stock has a market capitalization of $1.02 billion, a P/E ratio of 172.04 and a beta of 1.23.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $185.66 million during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.08 earnings per share. Equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TTI has been the subject of several recent analyst reports. Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Northland Securities set a $10.00 target price on Tetra Technologies in a report on Tuesday, September 1st. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

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.