Tetra Technologies (NYSE:TTI) Director Purchases $65,000.00 in Stock

Key Points

• Director Angela John purchased 10,000 Tetra Technologies shares at $6.50 each, investing $65,000 and increasing her ownership by 11.44% to 97,434 shares.
• Tetra shares rose 1.9% to $6.66, while the company’s latest quarterly results met EPS expectations at $0.08 and exceeded revenue estimates with $185.66 million.
• Analysts maintain a consensus “Moderate Buy” rating with an $11.50 target price; institutional investors own 70.19% of the stock, and several funds recently increased their positions.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) Director Angela John bought 10,000 shares of the company's stock in a transaction on Wednesday, September 2nd. The stock was bought at an average price of $6.50 per share, with a total value of $65,000.00. Following the completion of the acquisition, the director owned 97,434 shares in the company, valued at $633,321. This represents a 11.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Tetra Technologies Trading Up 1.9%

Shares of TTI traded up $0.12 during midday trading on Wednesday, reaching $6.66. The company had a trading volume of 3,044,996 shares, compared to its average volume of 1,807,850. Tetra Technologies, Inc. has a 1-year low of $4.61 and a 1-year high of $12.54. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $8.56 and a 200-day simple moving average of $9.18. The stock has a market cap of $985.41 million, a PE ratio of 166.42 and a beta of 1.23.

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 earnings per share for the quarter, meeting the consensus estimate of $0.08. Tetra Technologies had a net margin of 0.97% and a return on equity of 9.11%. The firm had revenue of $185.66 million for the quarter, compared to analysts' expectations of $176.16 million. During the same quarter in the previous year, the company posted $0.08 EPS. Research analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Northland Securities set a $10.00 price objective on Tetra Technologies in a report on Tuesday. Weiss Ratings lowered Tetra Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 4th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.50.

Hedge Funds Weigh In On Tetra Technologies

Several large investors have recently made changes to their positions in the stock. Corient Private Wealth LP acquired a new stake in Tetra Technologies in the 2nd quarter valued at approximately $114,000. Amundi lifted its stake in Tetra Technologies by 249.5% during the second quarter. Amundi now owns 58,017 shares of the oil and gas company's stock worth $657,000 after purchasing an additional 41,419 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Tetra Technologies by 902.8% during the second quarter. California State Teachers Retirement System now owns 1,654,191 shares of the oil and gas company's stock worth $18,742,000 after buying an additional 1,489,237 shares during the period. Benjamin Edwards Inc. grew its stake in shares of Tetra Technologies by 15.4% in the second quarter. Benjamin Edwards Inc. now owns 17,357 shares of the oil and gas company's stock valued at $197,000 after buying an additional 2,318 shares in the last quarter. Finally, Penn Capital Management Company LLC raised its holdings in shares of Tetra Technologies by 62.4% in the 2nd quarter. Penn Capital Management Company LLC now owns 180,867 shares of the oil and gas company's stock valued at $2,049,000 after buying an additional 69,500 shares during the period. 70.19% of the stock is currently owned by institutional investors and hedge funds.

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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