Wellington Management Group LLP Has $26.55 Million Stock Position in Tetra Technologies, Inc. $TTI

Wellington Management Group LLP raised its holdings in shares of Tetra Technologies, Inc. (NYSE:TTI) by 60.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,343,491 shares of the oil and gas company’s stock after buying an additional 880,413 shares during the quarter. Wellington Management Group LLP’s holdings in Tetra Technologies were worth $26,552,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. F m Investments LLC acquired a new position in Tetra Technologies during the 4th quarter valued at $958,000. BlackRock Inc. acquired a new stake in Tetra Technologies in the 2nd quarter worth $138,491,000. Ranger Investment Management L.P. bought a new position in shares of Tetra Technologies during the 2nd quarter worth about $5,190,000. SIR Capital Management L.P. bought a new position in shares of Tetra Technologies during the 2nd quarter worth about $1,810,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Tetra Technologies during the first quarter valued at about $2,874,000. 70.19% of the stock is owned by institutional investors.

Tetra Technologies Trading Down 0.9%

Shares of Tetra Technologies stock opened at $6.88 on Friday. The firm has a market capitalization of $1.02 billion, a PE ratio of 172.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76. The company’s fifty day moving average price is $8.35 and its two-hundred day moving average price is $9.11. Tetra Technologies, Inc. has a 52-week low of $4.61 and a 52-week high of $12.54.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The company had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period last year, the firm earned $0.08 EPS. On average, analysts expect that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at Tetra Technologies

In related news, VP Kurt Hallead bought 22,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president directly owned 170,764 shares of the company’s stock, valued at $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the business’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 completion of the sale, the chief executive officer directly owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.27% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in 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 price target on Tetra Technologies in a report on Tuesday. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Tetra Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $11.50.

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.