Insider Buying: Tetra Technologies (NYSE:TTI) VP Acquires $216,920.00 in Stock

Tetra Technologies, Inc. (NYSE:TTI) VP Kurt Hallead purchased 22,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link.

Tetra Technologies Stock Up 0.4%

TTI stock opened at $10.42 on Friday. The firm has a market cap of $1.39 billion, a PE ratio of 208.42 and a beta of 1.22. 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 firm’s fifty day moving average is $9.65 and its 200 day moving average is $9.64. Tetra Technologies, Inc. has a one year low of $3.17 and a one year high of $12.54.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $156.25 million for the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. On average, research analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.25.

Hedge Funds Weigh In On Tetra Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTI. AQR Capital Management LLC lifted its stake in shares of Tetra Technologies by 87.3% in the first quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock worth $405,000 after buying an additional 56,203 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of 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 worth $544,000 after buying an additional 90,001 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of 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 worth $756,000 after buying an additional 302,793 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of 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 buying an additional 3,547 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in shares of 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 buying an additional 7,590 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

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.