Edgestream Partners L.P. Takes Position in Tetra Technologies, Inc. $TTI

Key Points

• Edgestream Partners L.P. acquired 337,268 shares of Tetra Technologies in the first quarter, worth about $2.87 million and representing approximately 0.25% of the company. Institutional investors collectively own 70.19% of Tetra’s stock.
• Analysts maintain a generally positive outlook, with three Buy ratings and two Holds. Tetra has a “Moderate Buy” consensus rating and an average price target of $12.83, including Northland Securities’ increase to $14.
• Tetra exceeded quarterly expectations, reporting $0.06 in earnings per share versus the $0.03 consensus and revenue of $156.25 million. Insider activity was mixed: a vice president bought 22,000 shares, while the CEO sold 50,000 shares.

Edgestream Partners L.P. bought a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 337,268 shares of the oil and gas company's stock, valued at approximately $2,874,000. Edgestream Partners L.P. owned approximately 0.25% of Tetra Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of TTI. KBC Group NV purchased a new stake in Tetra Technologies in the 1st quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Tetra Technologies in the fourth quarter valued at about $33,000. Stone House Investment Management LLC purchased a new position in shares of Tetra Technologies in the fourth quarter valued at about $39,000. Rockefeller Capital Management L.P. purchased a new position in shares of Tetra Technologies in the fourth quarter valued at about $45,000. Finally, Generali Investments Management Co LLC bought a new position in shares of Tetra Technologies in the fourth quarter worth about $54,000. Institutional investors own 70.19% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TTI shares. Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Northland Securities boosted their price target on Tetra Technologies from $11.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Tetra Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $12.83.

Tetra Technologies Stock Performance

TTI opened at $7.70 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 153.95 and a beta of 1.19. The company has a fifty day moving average of $9.64 and a 200 day moving average of $9.76. Tetra Technologies, Inc. has a fifty-two week low of $3.82 and a fifty-two week high of $12.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $156.25 million for the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. As a group, sell-side analysts forecast that Tetra Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Kurt Hallead bought 22,000 shares of Tetra Technologies 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 completion of the acquisition, the vice president owned 170,764 shares of the company's stock, valued at $1,683,733.04. This trade represents a 14.79% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 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 owned 2,965,457 shares in the company, valued at $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.27% of the stock is owned by corporate insiders.

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.

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