Dimensional Fund Advisors LP Sells 474,436 Shares of Tetra Technologies, Inc. $TTI

Key Points

• Dimensional Fund Advisors cut its Tetra Technologies stake by 12.5%, selling 474,436 shares and retaining 3.32 million shares worth approximately $28.3 million. Institutional investors collectively own 70.19% of Tetra’s stock.
• Insider activity was mixed: Vice President Kurt Hallead bought 22,000 shares, while CEO Brady M. Murphy sold 50,000 shares. Corporate insiders own 6.27% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $12.83 price target versus the stock’s recent $8.43 price. Tetra reported quarterly revenue of $185.66 million and earnings of $0.08 per share, matching expectations.

Dimensional Fund Advisors LP trimmed its holdings in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 12.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,317,861 shares of the oil and gas company's stock after selling 474,436 shares during the period. Dimensional Fund Advisors LP owned approximately 2.45% of Tetra Technologies worth $28,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTI. Vanguard Group Inc. increased its position in Tetra Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company's stock valued at $48,628,000 after buying an additional 174,028 shares in the last quarter. Rubric Capital Management LP bought a new stake in Tetra Technologies in the third quarter worth $26,046,000. State Street Corp boosted its holdings in Tetra Technologies by 11.2% in the fourth quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company's stock worth $32,541,000 after acquiring an additional 350,051 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Tetra Technologies by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 3,090,503 shares of the oil and gas company's stock worth $28,963,000 after acquiring an additional 48,383 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Tetra Technologies by 2,392.5% in 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 acquiring an additional 2,948,885 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company's stock.

Insider Buying and Selling at Tetra Technologies

In other news, VP Kurt Hallead purchased 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were purchased at an average cost of $9.86 per share, with a total value of $216,920.00. Following the acquisition, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies stock in a transaction 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 sale, the chief executive officer directly owned 2,965,457 shares of the company's stock, valued at $31,789,699.04. The trade was a 1.66% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.27% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TTI. Northland Securities lifted their price target 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 lowered shares of Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.83.

Tetra Technologies Stock Down 2.7%

TTI opened at $8.43 on Thursday. The company has a quick ratio of 1.20, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average price of $9.51 and a 200-day moving average price of $9.70. Tetra Technologies, Inc. has a twelve month low of $3.82 and a twelve month high of $12.54. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 210.88 and a beta of 1.25.

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 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 last year, the company posted $0.08 earnings per share. Equities research analysts forecast that Tetra Technologies, Inc. will post 0.27 earnings per share for the current 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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