Strs Ohio Buys New Shares in Tetra Technologies, Inc. $TTI

Strs Ohio purchased a new position in Tetra Technologies, Inc. (NYSE:TTI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 183,200 shares of the oil and gas company’s stock, valued at approximately $1,561,000. Strs Ohio owned approximately 0.14% of Tetra Technologies as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TTI. Rubric Capital Management LP bought a new position in shares of Tetra Technologies during the 3rd quarter valued at approximately $26,046,000. Price T Rowe Associates Inc. MD lifted its holdings in Tetra Technologies by 2,392.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,072,139 shares of the oil and gas company’s stock valued at $28,787,000 after purchasing an additional 2,948,885 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Tetra Technologies during the fourth quarter valued at approximately $27,094,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Tetra Technologies in the fourth quarter worth approximately $25,359,000. Finally, Wellington Management Group LLP bought a new position in shares of Tetra Technologies in the fourth quarter worth approximately $15,773,000. Institutional investors own 70.19% of the company’s stock.

Tetra Technologies Trading Down 1.8%

Tetra Technologies stock opened at $9.23 on Wednesday. The stock has a market cap of $1.23 billion, a P/E ratio of 184.58 and a beta of 1.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. Tetra Technologies, Inc. has a 1 year low of $3.17 and a 1 year high of $12.54. The firm’s 50 day moving average price is $10.17 and its 200-day moving average price is $9.87.

Tetra Technologies (NYSE:TTI) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. On average, equities analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. 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 downgraded shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.88.

Insider Activity

In other news, VP Kurt Hallead bought 22,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the transaction, the vice president owned 170,764 shares of the company’s stock, 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 the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the 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 directly owned 2,965,457 shares of the company’s stock, valued at approximately $31,789,699.04. The trade was a 1.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.27% of the stock is owned by corporate insiders.

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.