Tetra Technologies (NYSE:TTI) Shares Down 7.4% - What's Next?

Key Points

• Tetra Technologies shares fell 7.4% to about $7.70 in Monday trading, with volume down 58% from its average. The stock remains below its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with four Buy ratings and two Holds, an overall “Moderate Buy” consensus, and an average price target of $10.88.
• The company exceeded quarterly expectations, reporting $0.06 in EPS versus the $0.03 consensus and revenue of $156.25 million versus $151.20 million expected. Insider activity was mixed, with a vice president buying shares while the CEO sold 50,000 shares.

Shares of Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) fell 7.4% during mid-day trading on Monday . The stock traded as low as $7.71 and last traded at $7.6950. Approximately 737,809 shares traded hands during trading, a decline of 58% from the average daily volume of 1,762,792 shares. The stock had previously closed at $8.31.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TTI shares. Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 8th. Northland Securities raised their price objective on Tetra Technologies from $11.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Tetra Technologies currently has an average rating of "Moderate Buy" and an average target price of $10.88.

Tetra Technologies Stock Down 8.5%

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02. The stock's 50 day moving average price is $9.93 and its 200-day moving average price is $9.84. The company has a market cap of $1.01 billion, a PE ratio of 152.21 and a beta of 1.19.

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

Insider Transactions at Tetra Technologies

In related news, VP Kurt Hallead bought 22,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president directly 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. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the firm's 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 transaction, the chief executive officer owned 2,965,457 shares in the company, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.27% of the stock is currently owned by company insiders.

Institutional Trading of Tetra Technologies

A number of institutional investors have recently made changes to their positions in TTI. Mercer Global Advisors Inc. ADV increased its stake in shares of Tetra Technologies by 5.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company's stock worth $233,000 after buying an additional 1,272 shares during the period. ProShare Advisors LLC boosted its position in Tetra Technologies by 6.7% during the 4th quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company's stock valued at $217,000 after buying an additional 1,452 shares during the period. EverSource Wealth Advisors LLC boosted its position in Tetra Technologies by 31.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company's stock valued at $58,000 after buying an additional 1,473 shares during the period. LPL Financial LLC grew its holdings in Tetra Technologies by 9.7% in the 4th quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company's stock worth $184,000 after acquiring an additional 1,739 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in Tetra Technologies by 2.5% in the 3rd quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company's stock worth $421,000 after acquiring an additional 1,754 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company's stock.

Tetra Technologies Company 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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