Ranger Investment Management L.P. Buys New Holdings in Tetra Technologies, Inc. $TTI

Key Points

• Ranger Investment Management purchased 458,119 shares of Tetra Technologies, valued at approximately $5.19 million, giving it a 0.31% stake. Institutional investors collectively own 70.19% of the company.
• Analyst sentiment remains generally positive: Tetra has a consensus “Moderate Buy” rating and an average price target of $12.83, while Northland Securities raised its target to $14.00.
• Tetra matched quarterly earnings expectations at $0.08 per share and exceeded revenue estimates with $185.66 million. The stock opened at $7.19, compared with a 52-week range of $4.24 to $12.54.

Ranger Investment Management L.P. purchased a new position in shares of Tetra Technologies, Inc. (NYSE:TTI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 458,119 shares of the oil and gas company's stock, valued at approximately $5,190,000. Ranger Investment Management L.P. owned about 0.31% of Tetra Technologies at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. KBC Group NV purchased a new stake in shares of Tetra Technologies during the first quarter valued at approximately $27,000. Allworth Financial LP purchased a new position in shares of Tetra Technologies in the second quarter worth $27,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Tetra Technologies in the fourth quarter worth $33,000. Osaic Holdings Inc. increased its stake in shares of Tetra Technologies by 647.1% in the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company's stock worth $43,000 after buying an additional 11,000 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new stake in Tetra Technologies during the 4th quarter valued at $45,000. 70.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Brady M. Murphy sold 50,000 shares of Tetra Technologies stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total transaction of $536,000.00. Following the sale, the chief executive officer owned 2,965,457 shares of the company's stock, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their position. The sale was disclosed in a document filed 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 bought 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 of the company's stock, valued at $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.27% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Northland Securities increased their price target 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. Weiss Ratings lowered 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.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $12.83.

Tetra Technologies Price Performance

TTI opened at $7.19 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.76 and a current ratio of 2.46. The stock has a market capitalization of $1.06 billion, a PE ratio of 179.79 and a beta of 1.25. The stock's 50 day moving average price is $9.04 and its 200-day moving average price is $9.42. Tetra Technologies, Inc. has a 52-week low of $4.24 and a 52-week high of $12.54.

Tetra Technologies (NYSE:TTI - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts' consensus estimates of $0.08. The company had revenue of $185.66 million during the quarter, compared to analyst estimates 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 firm posted $0.08 earnings per share. On average, equities research analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current 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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