Tetra Technologies (NYSE:TTI) Trading 12.9% Higher – What’s Next?

Tetra Technologies, Inc. (NYSE:TTI)’s share price was up 12.9% during mid-day trading on Tuesday . The stock traded as high as $8.73 and last traded at $8.8050. 660,114 shares changed hands during trading, a decline of 63% from the average daily volume of 1,789,345 shares. The stock had previously closed at $7.80.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Northland Securities boosted their price target 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. Weiss Ratings raised shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Tetra Technologies Stock Up 12.4%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The stock has a market capitalization of $1.17 billion, a PE ratio of 175.54 and a beta of 1.19. The business has a 50 day moving average of $9.59 and a two-hundred day moving average of $9.74.

Tetra Technologies (NYSE:TTI) last posted its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $185.66 million for the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.During the same quarter in the previous year, the firm earned $0.08 earnings per share. Analysts predict that Tetra Technologies, Inc. will post 0.27 EPS for the current year.

Insider Buying and Selling

In other news, VP Kurt Hallead acquired 22,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were purchased 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 approximately $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the business’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 transaction of $536,000.00. Following the transaction, the chief executive officer 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. 6.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Tetra Technologies

A number of large investors have recently made changes to their positions in TTI. AQR Capital Management LLC boosted its position in shares of Tetra Technologies by 87.3% in the 1st quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock worth $405,000 after purchasing an additional 56,203 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tetra Technologies by 125.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock valued at $544,000 after buying an additional 90,001 shares during the last quarter. Jane Street Group LLC raised its stake in Tetra Technologies by 389.7% in the first quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock valued at $756,000 after buying an additional 302,793 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Tetra Technologies by 0.9% in the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock worth $1,309,000 after acquiring an additional 3,547 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Tetra Technologies by 74.4% in the second quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 7,590 shares in the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.

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.