159,766 Shares in Tetra Technologies, Inc. $TTI Bought by SIR Capital Management L.P.

Key Points

• SIR Capital Management purchased 159,766 shares of Tetra Technologies, valued at approximately $1.81 million, giving it a 0.11% stake. Institutional investors collectively own 70.19% of the company.
• Tetra Technologies reported quarterly EPS of $0.08, in line with estimates, while revenue of $185.66 million exceeded the $176.16 million consensus forecast. Analysts maintain a “Moderate Buy” consensus with an average price target of $12.83.
• TTI shares opened at $6.77, well below their 50-day and 200-day moving averages of $8.97 and $9.38, respectively. Insider activity was mixed, with a vice president buying 22,000 shares and the CEO selling 50,000 shares.

SIR Capital Management L.P. purchased a new stake in Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 159,766 shares of the oil and gas company's stock, valued at approximately $1,810,000. SIR Capital Management L.P. owned approximately 0.11% of Tetra Technologies at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. KBC Group NV bought a new stake in Tetra Technologies during the 1st quarter worth about $27,000. Allworth Financial LP acquired a new position in shares of Tetra Technologies during the 2nd quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new position in shares of Tetra Technologies in the 4th quarter valued at about $33,000. Osaic Holdings Inc. increased its position in shares of Tetra Technologies by 647.1% in the second 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 last quarter. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies in the fourth quarter valued at about $45,000. 70.19% of the stock is currently owned by institutional investors.

Tetra Technologies Price Performance

Shares of TTI opened at $6.77 on Tuesday. The company's 50-day moving average is $8.97 and its 200-day moving average is $9.38. 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 firm has a market capitalization of $1.00 billion, a PE ratio of 169.29 and a beta of 1.25. Tetra Technologies, Inc. has a fifty-two week low of $4.38 and a fifty-two week high of $12.54.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The business had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the previous year, the firm posted $0.08 EPS. Equities analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Northland Securities upped their price objective on Tetra Technologies from $11.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 30th. 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. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $12.83.

Insider Activity at Tetra Technologies

In other news, VP Kurt Hallead acquired 22,000 shares of Tetra Technologies 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 completion of the acquisition, the vice president directly owned 170,764 shares in the company, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,965,457 shares in the company, valued at $31,789,699.04. The trade was a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Company 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.

Want to see what other hedge funds are holding TTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Technologies, Inc. (NYSE:TTI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source