SIR Capital Management L.P. Makes New Investment in Tetra Technologies, Inc. $TTI

SIR Capital Management L.P. acquired a new stake in Tetra Technologies, Inc. (NYSE:TTI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 159,766 shares of the oil and gas company’s stock, valued at approximately $1,810,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Tetra Technologies during the second quarter worth approximately $138,491,000. Rubric Capital Management LP bought a new stake in shares of Tetra Technologies in the third quarter valued at approximately $26,046,000. Price T Rowe Associates Inc. MD grew its position in Tetra Technologies by 2,392.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company’s stock worth $28,787,000 after buying an additional 2,948,885 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in Tetra Technologies during the fourth quarter worth approximately $27,094,000. Finally, Wellington Management Group LLP bought a new position in Tetra Technologies during the 4th quarter worth $15,773,000. Institutional investors and hedge funds own 70.19% of the company’s stock.

Insider Activity

In other Tetra Technologies news, VP Kurt Hallead bought 22,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was purchased at an average price of $9.86 per share, with a total value of $216,920.00. Following the completion of the purchase, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. The trade was a 14.79% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was 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 $31,789,699.04. This trade represents a 1.66% decrease in their position. The SEC filing for this sale provides additional information. 6.27% of the stock is currently owned by insiders.

Tetra Technologies Trading Down 5.8%

Shares of TTI stock opened at $6.77 on Tuesday. Tetra Technologies, Inc. has a fifty-two week low of $4.38 and a fifty-two week high of $12.54. The stock’s fifty day moving average price is $8.97 and its two-hundred day moving average price is $9.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46. The company has a market cap of $1.00 billion, a PE ratio of 169.29 and a beta of 1.25.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.The company had revenue of $185.66 million during the quarter, compared to analysts’ expectations of $176.16 million. During the same quarter in the previous year, the firm earned $0.08 EPS. Equities analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TTI. Northland Securities lifted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, June 30th. Weiss Ratings lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tetra Technologies currently has an average rating of “Moderate Buy” and an average target price of $12.83.

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.