Tetra Technologies (NYSE:TTI) Trading Down 5.6% – Here’s What Happened

Tetra Technologies, Inc. (NYSE:TTI) shares were down 5.6% on Tuesday . The stock traded as low as $6.47 and last traded at $6.5120. 700,350 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 1,788,416 shares. The stock had previously closed at $6.90.

Analyst Ratings Changes

A number of brokerages have commented on TTI. Weiss Ratings cut shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Northland Securities set a $10.00 target price on shares of Tetra Technologies in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $11.50.

Tetra Technologies Trading Down 4.2%

The stock has a market capitalization of $978.74 million, a P/E ratio of 165.29 and a beta of 1.25. The stock’s fifty day moving average price is $8.64 and its 200 day moving average price is $9.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. The business had revenue of $185.66 million during the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same period in the previous year, the company posted $0.08 EPS. Research analysts forecast that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 2,965,457 shares of the company’s stock, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kurt Hallead bought 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the purchase, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 6.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Allworth Financial LP acquired a new stake in shares of Tetra Technologies in the second quarter worth approximately $27,000. KBC Group NV acquired a new position in Tetra Technologies in the 1st quarter valued at $27,000. Aster Capital Management DIFC Ltd purchased a new position in Tetra Technologies in the 4th quarter valued at $33,000. Rockefeller Capital Management L.P. purchased a new position in Tetra Technologies in the 4th quarter valued at $45,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Tetra Technologies by 31.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 1,473 shares during 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.