Principal Financial Group Inc. Raises Position in Tetra Technologies, Inc. $TTI

Principal Financial Group Inc. boosted its holdings in Tetra Technologies, Inc. (NYSE:TTI) by 66.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 235,022 shares of the oil and gas company’s stock after purchasing an additional 93,865 shares during the period. Principal Financial Group Inc.’s holdings in Tetra Technologies were worth $2,002,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TTI. Aster Capital Management DIFC Ltd bought a new position in shares of Tetra Technologies during the fourth quarter valued at about $33,000. Stone House Investment Management LLC bought a new stake in shares of Tetra Technologies in the 4th quarter valued at about $39,000. Osaic Holdings Inc. boosted its holdings in Tetra Technologies by 647.1% during the 2nd quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 11,000 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Tetra Technologies during the 4th quarter valued at about $45,000. Finally, Tower Research Capital LLC TRC grew its position in Tetra Technologies by 235.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock worth $49,000 after acquiring an additional 10,204 shares during the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTI has been the topic of a number of analyst reports. Weiss Ratings raised Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Northland Securities increased their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

Tetra Technologies Stock Performance

Shares of NYSE:TTI opened at $7.61 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $9.69 and a 200-day moving average price of $9.78. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 152.17 and a beta of 1.19. Tetra Technologies, Inc. has a 12 month low of $3.82 and a 12 month high of $12.54.

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

Insider Buying and Selling

In other Tetra Technologies news, VP Kurt Hallead acquired 22,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was acquired at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. This represents a 14.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the 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 completion of the sale, 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. The SEC filing for this sale provides additional information. Corporate insiders own 6.27% of the company’s stock.

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.