Tetra Technologies (NYSE:TTI) Stock Price Up 12.9% - Here's Why

Key Points

• Tetra Technologies shares jumped 12.9% to $8.805 after the company’s quarterly results met EPS expectations at $0.08 and exceeded revenue forecasts, reporting $185.66 million versus $176.16 million expected.
• Analyst sentiment is favorable: Northland Securities raised its price target to $14.00, while the stock carries a consensus “Moderate Buy” rating and $12.83 average price target.
• Institutional investors own 70.19% of Tetra’s shares, while insider activity was mixed, with a vice president buying 22,000 shares and the CEO selling 50,000 shares.

Tetra Technologies, Inc. (NYSE:TTI - Get Free Report) was up 12.9% during trading on Tuesday . The company traded as high as $8.73 and last traded at $8.8050. 660,114 shares changed hands during trading, a decline of 63% from the average session volume of 1,789,345 shares. The stock had previously closed at $7.80.

Wall Street Analyst Weigh In

Several analysts have recently commented on TTI shares. Northland Securities raised 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. Weiss Ratings upgraded Tetra Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 8th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.83.

Tetra Technologies Stock Performance

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 business's fifty day simple moving average is $9.59 and its 200-day simple moving average is $9.74. The firm has a market capitalization of $1.17 billion, a PE ratio of 175.54 and a beta of 1.19.

Tetra Technologies (NYSE:TTI - Get Free Report) last released its earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. The firm had revenue of $185.66 million for the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. As a group, equities research analysts expect that Tetra Technologies, Inc. will post 0.27 EPS for the current year.

Insider Activity

In other news, VP Kurt Hallead purchased 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, with a total value of $216,920.00. Following the completion of the purchase, the vice president owned 170,764 shares in the company, valued at approximately $1,683,733.04. This represents a 14.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the firm'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 value of $536,000.00. Following the transaction, the chief executive officer owned 2,965,457 shares of the company's stock, valued at $31,789,699.04. This represents a 1.66% decrease in their position. The SEC filing for this sale provides additional information. 6.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tetra Technologies

A number of institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV bought a new stake in shares of Tetra Technologies during the first quarter valued at approximately $27,000. Aster Capital Management DIFC Ltd purchased a new position in Tetra Technologies during the 4th quarter worth $33,000. Stone House Investment Management LLC bought a new stake in Tetra Technologies during the 4th quarter valued at $39,000. Osaic Holdings Inc. grew its position in shares of Tetra Technologies by 647.1% during the 2nd 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 in the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Tetra Technologies during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 70.19% of the company's stock.

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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