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

Jennison Associates LLC bought a new stake in shares of Tetra Technologies, Inc. (NYSE:TTI) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 76,164 shares of the oil and gas company’s stock, valued at approximately $649,000. Jennison Associates LLC owned approximately 0.06% of Tetra Technologies as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TTI. Mercer Global Advisors Inc. ADV raised its position in 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 acquiring an additional 1,272 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of 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 purchasing an additional 1,452 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 purchasing an additional 1,473 shares in the last quarter. LPL Financial LLC grew its stake in shares of 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 purchasing an additional 1,739 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of 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 purchasing an additional 1,754 shares during the last quarter. Institutional investors own 70.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TTI shares. Weiss Ratings raised shares of Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 8th. Northland Securities lifted their price target on shares of Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.88.

Tetra Technologies Stock Performance

Shares of TTI opened at $8.49 on Friday. Tetra Technologies, Inc. has a one year low of $3.64 and a one year high of $12.54. The company has a 50-day moving average of $9.97 and a two-hundred day moving average of $9.86. The stock 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 (NYSE:TTI) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $156.25 million for 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 research analysts expect that Tetra Technologies, Inc. will post 0.27 earnings per share for the current year.

Insider Activity at Tetra Technologies

In other Tetra Technologies news, VP Kurt Hallead bought 22,000 shares of Tetra Technologies stock in a transaction dated Tuesday, June 9th. The stock was bought at an average price of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the acquisition, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer directly 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 6.27% 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.