Heartland Advisors Inc. Acquires 250,650 Shares of Tetra Technologies, Inc. $TTI

Key Points

• Heartland Advisors Inc. increased its stake in Tetra Technologies by 69% in the first quarter, buying 250,650 additional shares and bringing its total holding to 613,800 shares worth about $5.23 million.
• Analyst sentiment remains generally positive, with four Buy ratings and two Hold ratings on the stock; Northland Securities recently raised its price target to $14.00, while the consensus target stands at $10.88.
• Insider activity was mixed: CEO Brady M. Murphy sold 50,000 shares, while VP Kurt Hallead bought 22,000 shares. Tetra also recently beat quarterly EPS and revenue estimates, reporting $0.06 EPS on revenue of $156.25 million.

Heartland Advisors Inc. boosted its holdings in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) by 69.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 613,800 shares of the oil and gas company's stock after buying an additional 250,650 shares during the quarter. Heartland Advisors Inc. owned approximately 0.45% of Tetra Technologies worth $5,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of TTI. Aster Capital Management DIFC Ltd bought a new position in shares of Tetra Technologies during the 4th quarter worth approximately $33,000. Stone House Investment Management LLC bought a new stake in Tetra Technologies in the 4th quarter valued at $39,000. Rockefeller Capital Management L.P. bought a new stake in Tetra Technologies in the 4th quarter valued at $45,000. Generali Investments Management Co LLC bought a new stake in Tetra Technologies in the 4th quarter valued at $54,000. Finally, Allworth Financial LP lifted its holdings in Tetra Technologies by 219.3% during the 4th quarter. Allworth Financial LP now owns 6,009 shares of the oil and gas company's stock valued at $56,000 after purchasing an additional 4,127 shares during the last quarter. Institutional investors own 70.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TTI shares. Weiss Ratings raised shares of Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 8th. Northland Securities increased their price objective on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, June 30th. Four 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.88.

Insider Buying and Selling

In other news, CEO Brady M. Murphy sold 50,000 shares of the company'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 represents a 1.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kurt Hallead purchased 22,000 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, June 9th. The shares were purchased at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the transaction, the vice president directly owned 170,764 shares in the company, valued at $1,683,733.04. This represents a 14.79% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 6.27% of the company's stock.

Tetra Technologies Stock Down 0.2%

TTI stock opened at $9.24 on Monday. The company has a market cap of $1.23 billion, a PE ratio of 184.80 and a beta of 1.19. The business has a 50-day simple moving average of $10.10 and a 200 day simple moving average of $9.87. Tetra Technologies, Inc. has a 52 week low of $3.28 and a 52 week high of $12.54. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $151.20 million. Sell-side analysts anticipate that Tetra Technologies, Inc. will post 0.27 EPS for the current fiscal year.

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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