Legal & General Group Plc Purchases New Stake in Tetra Technologies, Inc. $TTI

Legal & General Group Plc acquired a new position in Tetra Technologies, Inc. (NYSE:TTI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 125,658 shares of the oil and gas company’s stock, valued at approximately $1,424,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. F m Investments LLC acquired a new stake in shares of Tetra Technologies during the fourth quarter worth approximately $958,000. BlackRock Inc. acquired a new stake in shares of Tetra Technologies during the 2nd quarter valued at $138,491,000. Ranger Investment Management L.P. purchased a new position in shares of Tetra Technologies during the 2nd quarter valued at $5,190,000. Edgestream Partners L.P. acquired a new position in shares of Tetra Technologies in the first quarter worth $2,874,000. Finally, Rice Hall James & Associates LLC purchased a new stake in shares of Tetra Technologies during the second quarter worth $12,099,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Insiders Place Their Bets

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total value of $536,000.00. Following the sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Kurt Hallead bought 22,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the transaction, the vice president directly owned 170,764 shares of the company’s stock, valued at $1,683,733.04. This trade represents a 14.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 6.27% of the company’s stock.

Tetra Technologies Trading Down 0.4%

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

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data 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. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The business had revenue of $185.66 million during the quarter, compared to analysts’ expectations of $176.16 million. During the same period in the previous year, the company earned $0.08 earnings per share. Equities analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.