Jennison Associates LLC Invests $649,000 in Tetra Technologies, Inc. $TTI

Jennison Associates LLC purchased a new position in shares of Tetra Technologies, Inc. (NYSE:TTI) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 76,164 shares of the oil and gas company’s stock, valued at approximately $649,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TTI. Aster Capital Management DIFC Ltd acquired a new position in Tetra Technologies in the 4th quarter valued at approximately $33,000. Stone House Investment Management LLC purchased a new stake in Tetra Technologies in the 4th quarter worth approximately $39,000. Osaic Holdings Inc. boosted its stake 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 valued at $43,000 after buying an additional 11,000 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies during the 4th quarter valued at $45,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Tetra Technologies by 235.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,536 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 10,204 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Northland Securities upped their price target on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Weiss Ratings raised Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 8th. Four research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.88.

Insider Activity at Tetra Technologies

In other Tetra Technologies news, VP Kurt Hallead purchased 22,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, with a total value of $216,920.00. Following the transaction, the vice president directly owned 170,764 shares in the company, valued at approximately $1,683,733.04. This represents a 14.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the company’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 of the company’s stock, valued at approximately $31,789,699.04. This trade represents 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 Stock Down 6.4%

Tetra Technologies stock opened at $8.49 on Friday. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 169.93 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 fifty-two week low of $3.64 and a fifty-two week high of $12.54. The firm has a fifty day moving average price of $9.97 and a two-hundred day moving average price of $9.86.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $156.25 million for the quarter, compared to the consensus estimate of $151.20 million. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%. As a group, analysts forecast that Tetra Technologies, Inc. will post 0.27 earnings per share for the current year.

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.