Emerald Advisers LLC Sells 193,775 Shares of Tetra Technologies, Inc. $TTI

Key Points

• Emerald Advisers LLC cut its Tetra Technologies stake by 6.8% in the first quarter, selling 193,775 shares and leaving it with 2.66 million shares worth about $22.7 million.
• Insider activity was mixed: CEO Brady M. Murphy sold 50,000 shares, while VP Kurt Hallead bought 22,000 shares, signaling both profit-taking and confidence from management.
• Analyst sentiment remains positive overall, with Northland Securities lifting its price target to $14 and the stock carrying a “Moderate Buy” consensus rating with an average target price of $10.88.

Emerald Advisers LLC trimmed its holdings in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,661,527 shares of the oil and gas company's stock after selling 193,775 shares during the quarter. Emerald Advisers LLC owned about 1.97% of Tetra Technologies worth $22,676,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TTI. Vanguard Group Inc. grew its stake in Tetra Technologies by 2.1% in 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 during the last quarter. Rubric Capital Management LP acquired a new position in Tetra Technologies during the 3rd quarter worth $26,046,000. Dimensional Fund Advisors LP boosted its holdings in Tetra Technologies by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company's stock valued at $25,414,000 after acquiring an additional 72,338 shares during the period. State Street Corp boosted its holdings in Tetra Technologies by 11.2% during the fourth quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company's stock valued at $32,541,000 after acquiring an additional 350,051 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Tetra Technologies by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,090,503 shares of the oil and gas company's stock valued at $28,963,000 after acquiring an additional 48,383 shares during the period. 70.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Tetra Technologies

In other news, CEO Brady M. Murphy sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of the sale, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kurt Hallead bought 22,000 shares of the firm's stock in a transaction dated Tuesday, June 9th. The shares were acquired at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president directly owned 170,764 shares of the company's stock, valued at approximately $1,683,733.04. The trade was a 14.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 6.27% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TTI. Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Northland Securities raised their price objective on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, June 30th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.88.

Tetra Technologies Price Performance

Shares of TTI stock opened at $9.19 on Tuesday. Tetra Technologies, Inc. has a 12 month low of $3.17 and a 12 month high of $12.54. The company has a market capitalization of $1.22 billion, a P/E ratio of 183.74 and a beta of 1.19. The stock has a 50 day moving average of $10.14 and a two-hundred day moving average of $9.88. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62.

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 the consensus estimate of $0.03 by $0.03. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The firm had revenue of $156.25 million for the quarter, compared to analyst estimates of $151.20 million. As a group, equities analysts expect that Tetra Technologies, Inc. will post 0.27 EPS for the current year.

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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