Encompass Capital Advisors LLC Has $27.28 Million Holdings in Tetra Technologies, Inc. $TTI

Key Points

• Encompass Capital Advisors increased its Tetra Technologies stake by 10.7% in the first quarter, bringing its holdings to 3.2 million shares valued at approximately $27.28 million. Institutional investors collectively own 70.19% of Tetra’s stock.
• Insider activity was mixed: Vice President Kurt Hallead purchased 22,000 shares for about $216,920, while CEO Brady M. Murphy sold 50,000 shares for approximately $536,000.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $10.88 price target. Tetra also exceeded first-quarter earnings expectations, reporting $0.06 EPS and $156.25 million in revenue.

Encompass Capital Advisors LLC grew its position in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,201,953 shares of the oil and gas company's stock after purchasing an additional 310,363 shares during the quarter. Encompass Capital Advisors LLC owned about 2.36% of Tetra Technologies worth $27,281,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 174,028 shares during the last quarter. Rubric Capital Management LP bought a new position in Tetra Technologies during the third quarter worth $26,046,000. Dimensional Fund Advisors LP lifted its holdings in Tetra Technologies by 1.7% in 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 buying an additional 72,338 shares during the period. State Street Corp lifted 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 valued at $32,541,000 after buying an additional 350,051 shares during the period. Finally, Geode Capital Management LLC boosted its position 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 last quarter. Institutional investors own 70.19% of the company's stock.

Insider Buying and Selling

In other news, VP Kurt Hallead bought 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, with a total value of $216,920.00. Following the completion of the transaction, the vice president directly owned 170,764 shares of the company's stock, valued at $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the 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 transaction, the chief executive officer owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. This represents a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. 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 note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.88.

Tetra Technologies Stock Performance

Shares of TTI opened at $7.66 on Tuesday. Tetra Technologies, Inc. has a one year low of $3.64 and a one year high of $12.54. The company has a market cap of $1.02 billion, a PE ratio of 153.19 and a beta of 1.19. The stock has a 50-day moving average of $9.87 and a 200-day moving average of $9.83. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20.

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