Empowered Funds LLC Makes New Investment in Tetra Technologies, Inc. $TTI

Key Points

• Empowered Funds LLC initiated a position in Tetra Technologies by purchasing 664,214 shares valued at approximately $7.5 million, representing about 0.45% of the company. Institutional investors collectively own 70.19% of Tetra’s stock.
• Tetra reported quarterly EPS of $0.08, in line with expectations, while revenue of $185.66 million exceeded the $176.16 million consensus estimate. Shares opened at $6.82, well below their 52-week high of $12.54.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $12.83; Northland Securities raised its target to $14.00. Separately, the CEO sold 50,000 shares, while a vice president purchased 22,000 shares.

Empowered Funds LLC purchased a new position in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 664,214 shares of the oil and gas company's stock, valued at approximately $7,526,000. Empowered Funds LLC owned approximately 0.45% of Tetra Technologies as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. KBC Group NV bought a new position in Tetra Technologies during the first quarter worth about $27,000. Allworth Financial LP bought a new stake in shares of Tetra Technologies in the second quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Tetra Technologies in the fourth quarter worth about $33,000. Osaic Holdings Inc. raised its position in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 11,000 shares during the period. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies during the fourth quarter worth about $45,000. Institutional investors own 70.19% of the company's stock.

Tetra Technologies Price Performance

Shares of NYSE TTI opened at $6.82 on Monday. The firm has a market cap of $1.01 billion, a PE ratio of 170.54 and a beta of 1.25. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.43. Tetra Technologies, Inc. has a 1-year low of $4.61 and a 1-year high of $12.54. The company has a fifty day moving average price of $8.70 and a 200 day moving average price of $9.25.

Tetra Technologies (NYSE:TTI - Get Free Report) last released 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. The firm had revenue of $185.66 million for the quarter, compared to the consensus estimate of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.During the same quarter last year, the business posted $0.08 EPS. Research analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at Tetra Technologies

In other Tetra Technologies news, CEO Brady M. Murphy sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of the transaction, the chief executive officer 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt Hallead acquired 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the acquisition, the vice president directly owned 170,764 shares of the company's stock, valued at $1,683,733.04. The trade was 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 company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Northland Securities boosted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, June 30th. Weiss Ratings downgraded shares of Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Tetra Technologies presently has a consensus 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.

Want to see what other hedge funds are holding TTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Technologies, Inc. (NYSE:TTI - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source