Bank of America Corp DE Buys 511,979 Shares of Tetra Technologies, Inc. $TTI

Bank of America Corp DE boosted its stake in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 82.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,131,254 shares of the oil and gas company's stock after buying an additional 511,979 shares during the period. Bank of America Corp DE owned approximately 0.84% of Tetra Technologies worth $9,638,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of TTI. KBC Group NV bought a new stake in shares of Tetra Technologies in the first quarter valued at about $27,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Tetra Technologies during the fourth quarter worth $33,000. Rockefeller Capital Management L.P. bought a new position in Tetra Technologies in the fourth quarter valued at about $45,000. Generali Investments Management Co LLC bought a new stake in shares of Tetra Technologies in the fourth quarter worth $54,000. Finally, Allworth Financial LP increased its position in shares of Tetra Technologies by 219.3% during the fourth quarter. Allworth Financial LP now owns 6,009 shares of the oil and gas company's stock worth $56,000 after buying an additional 4,127 shares during the period. 70.19% of the stock is currently owned by institutional investors.

Insider Transactions at Tetra Technologies

In related news, VP Kurt Hallead purchased 22,000 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average price of $9.86 per share, with a total value 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. This represents a 14.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies 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 trade represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings downgraded Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Northland Securities boosted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, June 30th. 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.83.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $7.19 on Monday. The stock has a fifty day simple moving average of $9.04 and a two-hundred day simple moving average of $9.42. The firm has a market capitalization of $1.06 billion, a PE ratio of 179.79 and a beta of 1.25. Tetra Technologies, Inc. has a 52-week low of $4.24 and a 52-week high of $12.54. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46.

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

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.

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