Pullen Investment Management LLC Acquires 97,937 Shares of Tetra Technologies, Inc. $TTI

Pullen Investment Management LLC lifted its stake in Tetra Technologies, Inc. (NYSE:TTI) by 16.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 695,165 shares of the oil and gas company’s stock after purchasing an additional 97,937 shares during the quarter. Tetra Technologies comprises about 2.2% of Pullen Investment Management LLC’s portfolio, making the stock its 10th largest holding. Pullen Investment Management LLC owned about 0.52% of Tetra Technologies worth $3,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in Tetra Technologies during the 3rd quarter valued at approximately $28,000. DKM Wealth Management Inc. purchased a new stake in shares of Tetra Technologies during the second quarter valued at $42,000. Osaic Holdings Inc. grew its holdings in shares of Tetra Technologies by 647.1% during the second quarter. Osaic Holdings Inc. now owns 12,700 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 11,000 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in shares of Tetra Technologies in the 2nd quarter valued at $44,000. Finally, American Trust purchased a new position in Tetra Technologies in the 2nd quarter worth $49,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTI. Wall Street Zen lowered Tetra Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Northland Securities increased their price target on shares of Tetra Technologies from $8.50 to $11.50 and gave the stock an “outperform” rating in a report on Wednesday, December 31st. CJS Securities initiated coverage on shares of Tetra Technologies in a research report on Thursday, December 11th. They set an “outperform” rating and a $11.50 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Tetra Technologies in a research note on Friday. Finally, Stifel Nicolaus increased their price objective on shares of Tetra Technologies from $9.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Tetra Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $10.25.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $10.43 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 1.56 and a debt-to-equity ratio of 0.61. Tetra Technologies, Inc. has a 12-month low of $2.03 and a 12-month high of $10.75. The business’s 50 day moving average is $8.62 and its two-hundred day moving average is $6.23. The company has a market capitalization of $1.39 billion, a P/E ratio of 11.46 and a beta of 1.11.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $153.24 million for the quarter, compared to the consensus estimate of $144.40 million. Tetra Technologies had a net margin of 19.75% and a return on equity of 13.07%. Analysts expect that Tetra Technologies, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity

In other Tetra Technologies news, VP Shoemake Alicia R. Boston sold 19,257 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $7.94, for a total value of $152,900.58. Following the completion of the sale, the vice president directly owned 132,672 shares in the company, valued at $1,053,415.68. This represents a 12.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.71% of the stock is owned by company insiders.

Tetra Technologies 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.