Encompass Capital Advisors LLC Has $27.28 Million Holdings in Tetra Technologies, Inc. $TTI

Encompass Capital Advisors LLC boosted its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 10.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 3,201,953 shares of the oil and gas company’s stock after purchasing an additional 310,363 shares during the quarter. Encompass Capital Advisors LLC’s holdings in Tetra Technologies were worth $27,281,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TTI. The Manufacturers Life Insurance Company increased its holdings in Tetra Technologies by 53.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 58,394 shares of the oil and gas company’s stock worth $498,000 after purchasing an additional 20,364 shares in the last quarter. Rice Hall James & Associates LLC bought a new position in shares of Tetra Technologies in the first quarter valued at approximately $339,000. Sei Investments Co. lifted its holdings in shares of Tetra Technologies by 71.0% in the first quarter. Sei Investments Co. now owns 438,084 shares of the oil and gas company’s stock valued at $3,732,000 after purchasing an additional 181,872 shares in the last quarter. State of Wyoming boosted its position in shares of Tetra Technologies by 153.1% during the first quarter. State of Wyoming now owns 24,554 shares of the oil and gas company’s stock valued at $209,000 after buying an additional 14,851 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Tetra Technologies by 5.4% during the first quarter. First Trust Advisors LP now owns 445,683 shares of the oil and gas company’s stock valued at $3,797,000 after buying an additional 22,845 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

Tetra Technologies Stock Performance

NYSE TTI opened at $7.66 on Tuesday. The company has a market capitalization of $1.02 billion, a PE ratio of 153.19 and a beta of 1.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. Tetra Technologies, Inc. has a 52-week low of $3.64 and a 52-week high of $12.54. The company has a 50-day simple moving average of $9.87 and a 200 day simple moving average of $9.83.

Tetra Technologies (NYSE:TTI) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The firm had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $151.20 million. On average, research analysts predict that Tetra Technologies, Inc. will post 0.27 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TTI. Weiss Ratings raised shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Northland Securities increased 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. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.88.

Insider Buying and Selling

In related news, VP Kurt Hallead purchased 22,000 shares of the stock in a transaction that occurred 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 acquisition, the vice president 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total value of $536,000.00. Following the completion of the transaction, the chief executive officer owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.