Tetra Technologies (NYSE:TTI) Announces Quarterly Earnings Results

Key Points

• Tetra Technologies reported quarterly EPS of $0.08, matching analysts’ consensus estimate. The company posted a 10.50% return on equity and a 1.15% net margin.
• Shares rose $0.11 to $7.81, while analysts maintained a generally positive outlook: TTI has a “Moderate Buy” consensus rating and an average price target of $12.83.
• Institutional investors own 70.19% of the company, while insider activity was mixed: the CEO sold 50,000 shares, and a vice president bought 22,000 shares.

Tetra Technologies (NYSE:TTI - Get Free Report) released its quarterly earnings results on Monday. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08, Zacks reports. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.

Tetra Technologies Stock Performance

Shares of NYSE TTI traded up $0.11 during trading hours on Monday, hitting $7.81. 1,752,980 shares of the company's stock were exchanged, compared to its average volume of 1,798,151. Tetra Technologies has a 1-year low of $3.82 and a 1-year high of $12.54. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 156.23 and a beta of 1.25. The company's 50-day moving average price is $9.64 and its 200-day moving average price is $9.76.

Analyst Upgrades and Downgrades

TTI has been the subject of several analyst reports. Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Northland Securities lifted 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. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.83.

Insider Buying and Selling

In other news, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kurt Hallead acquired 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the purchase, the vice president owned 170,764 shares of the company's stock, valued at $1,683,733.04. The trade was a 14.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.27% of the company's stock.

Institutional Trading of Tetra Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP acquired a new stake in shares of Tetra Technologies during the 3rd quarter worth approximately $26,046,000. Price T Rowe Associates Inc. MD lifted its position in Tetra Technologies by 2,392.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company's stock worth $28,787,000 after purchasing an additional 2,948,885 shares during the period. Wellington Management Group LLP bought a new position in Tetra Technologies in the fourth quarter worth $15,773,000. Marshall Wace LLP acquired a new stake in Tetra Technologies during the second quarter worth $3,613,000. Finally, Millennium Management LLC bought a new stake in Tetra Technologies in the 4th quarter valued at $7,324,000. 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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