Deutsche Bank AG Purchases Shares of 537,058 Tetra Technologies, Inc. $TTI

Key Points

• Deutsche Bank acquired 537,058 shares of Tetra Technologies in the second quarter, valued at approximately $6.1 million, giving it a 0.40% stake. Institutional investors collectively own 70.19% of the company.
• Tetra Technologies met quarterly earnings expectations with EPS of $0.08 and exceeded revenue estimates, reporting $185.66 million versus the $176.16 million forecast. Analysts expect full-year EPS of $0.26.
• Despite the stock trading at $6.77, well below its 50-day and 200-day moving averages, analysts maintain a “Moderate Buy” consensus with an average price target of $12.83.

Deutsche Bank AG purchased a new position in Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 537,058 shares of the oil and gas company's stock, valued at approximately $6,085,000. Deutsche Bank AG owned about 0.40% of Tetra Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rubric Capital Management LP bought a new stake in shares of Tetra Technologies in the third quarter valued at about $26,046,000. Price T Rowe Associates Inc. MD grew its position in Tetra Technologies by 2,392.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company's stock worth $28,787,000 after buying an additional 2,948,885 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in Tetra Technologies during the fourth quarter valued at about $27,094,000. Wellington Management Group LLP bought a new position in Tetra Technologies during the fourth quarter valued at about $15,773,000. Finally, Marshall Wace LLP acquired a new position in Tetra Technologies in the 2nd quarter valued at approximately $3,613,000. Institutional investors own 70.19% of the company's stock.

Tetra Technologies Price Performance

NYSE:TTI opened at $6.77 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46. The company has a 50-day moving average of $8.97 and a 200-day moving average of $9.38. Tetra Technologies, Inc. has a 52 week low of $4.38 and a 52 week high of $12.54. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 169.29 and a beta of 1.25.

Tetra Technologies (NYSE:TTI - Get Free Report) last posted 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. 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 for the quarter, compared to analysts' expectations of $176.16 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, equities research analysts anticipate that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 of the company's stock, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Kurt Hallead bought 22,000 shares of the business's 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 transaction, the vice president directly owned 170,764 shares in the company, valued at $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 6.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Northland Securities raised their price objective on Tetra Technologies from $11.50 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 30th. Weiss Ratings cut Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.

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.

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