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

Rice Hall James & Associates LLC purchased a new position in Tetra Technologies, Inc. (NYSE:TTI) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,067,906 shares of the oil and gas company’s stock, valued at approximately $12,099,000.

A number of other institutional investors have also made changes to their positions in TTI. Crown Advisors Management Inc. bought a new stake in Tetra Technologies in the second quarter valued at about $3,611,000. Global Retirement Partners LLC bought a new position in Tetra Technologies during the second quarter worth about $318,000. Bank of New York Mellon Corp acquired a new position in shares of Tetra Technologies during the 2nd quarter worth about $4,733,000. State of Wyoming acquired a new position in shares of Tetra Technologies during the 2nd quarter worth about $106,000. Finally, GSA Capital Partners LLP bought a new stake in shares of Tetra Technologies in the 2nd quarter valued at about $1,129,000. 70.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TTI. Northland Securities increased their price target 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. Weiss Ratings downgraded shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.83.

Tetra Technologies Stock Performance

TTI stock opened at $8.42 on Tuesday. Tetra Technologies, Inc. has a 1-year low of $3.89 and a 1-year high of $12.54. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.25 billion, a PE ratio of 210.55 and a beta of 1.25. The business’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 announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The company had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same period in the prior year, the company earned $0.08 earnings per share. As a group, research analysts forecast that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Kurt Hallead bought 22,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the purchase, the vice president 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the firm’s 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 transaction, the chief executive officer directly owned 2,965,457 shares of the company’s stock, valued at approximately $31,789,699.04. This trade represents a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.27% of the company’s stock.

Tetra Technologies 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.