BlackRock Inc. Makes New Investment in Tetra Technologies, Inc. $TTI

BlackRock Inc. bought a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,223,413 shares of the oil and gas company's stock, valued at approximately $138,491,000. BlackRock Inc. owned approximately 9.19% of Tetra Technologies at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. F m Investments LLC acquired a new stake in shares of Tetra Technologies in the fourth quarter valued at about $958,000. Edgestream Partners L.P. bought a new position in Tetra Technologies during the first quarter worth about $2,874,000. Heartland Advisors Inc. grew its holdings in shares of Tetra Technologies by 69.0% during the 1st quarter. Heartland Advisors Inc. now owns 613,800 shares of the oil and gas company's stock worth $5,230,000 after purchasing an additional 250,650 shares in the last quarter. Bank of America Corp DE grew its position in Tetra Technologies by 82.7% during the 1st quarter. Bank of America Corp DE now owns 1,131,254 shares of the oil and gas company's stock worth $9,638,000 after acquiring an additional 511,979 shares during the last quarter. Finally, Rice Hall James & Associates LLC acquired a new position in shares of Tetra Technologies in the second quarter worth approximately $12,099,000. 70.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Kurt Hallead bought 22,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, the vice president owned 170,764 shares of the company's stock, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the business's stock in a transaction dated 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 $31,789,699.04. This represents a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.27% of the company's stock.

Tetra Technologies Price Performance

Shares of Tetra Technologies stock opened at $6.82 on Friday. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The company has a market cap of $1.01 billion, a PE ratio of 170.54 and a beta of 1.25. The business has a 50 day moving average of $8.70 and a 200 day moving average of $9.26. Tetra Technologies, Inc. has a 52 week low of $4.61 and a 52 week high of $12.54.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to analysts' expectations of $176.16 million. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, equities research analysts forecast that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on TTI shares. Weiss Ratings lowered 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 equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.83.

Tetra Technologies Company 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.

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