Tetra Technologies (NYSE:TTI) CEO Brady Murphy Sells 50,000 Shares of Stock

Tetra Technologies, Inc. (NYSE:TTI) CEO Brady Murphy sold 50,000 shares of Tetra Technologies stock in a transaction dated 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 $31,789,699.04. This trade represents a 1.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Tetra Technologies Stock Performance

TTI stock opened at $9.32 on Friday. Tetra Technologies, Inc. has a one year low of $3.17 and a one year high of $12.54. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 186.54 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. The firm has a 50-day simple moving average of $10.18 and a two-hundred day simple moving average of $9.86.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on TTI. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Northland Securities raised their price objective on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.88.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Tetra Technologies by 2.1% during the third quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock worth $48,628,000 after buying an additional 174,028 shares during the period. Rubric Capital Management LP purchased a new position in Tetra Technologies in the 3rd quarter worth $26,046,000. Dimensional Fund Advisors LP lifted its position in Tetra Technologies by 1.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after acquiring an additional 72,338 shares during the period. State Street Corp lifted its position in Tetra Technologies by 11.2% during the 4th quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock worth $32,541,000 after acquiring an additional 350,051 shares during the period. Finally, American Century Companies Inc. grew its stake in Tetra Technologies by 13.8% during the 3rd quarter. American Century Companies Inc. now owns 3,416,017 shares of the oil and gas company’s stock valued at $19,642,000 after purchasing an additional 414,076 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.

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.