Tetra Technologies (NYSE:TTI) Releases Quarterly Earnings Results, Meets Estimates

Tetra Technologies (NYSE:TTI) posted its quarterly earnings results on Monday. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08, Zacks reports. Tetra Technologies had a return on equity of 10.05% and a net margin of 0.97%.The business had revenue of $185.66 million during the quarter, compared to the consensus estimate of $176.16 million. During the same period last year, the firm earned $0.08 earnings per share.

Tetra Technologies Stock Performance

Tetra Technologies stock traded down $0.29 during mid-day trading on Wednesday, hitting $8.38. 219,494 shares of the company’s stock traded hands, compared to its average volume of 1,792,354. The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. Tetra Technologies has a one year low of $3.82 and a one year high of $12.54. The firm has a 50 day moving average price of $9.55 and a 200 day moving average price of $9.72. The company has a market cap of $1.12 billion, a PE ratio of 167.63 and a beta of 1.25.

Analyst Ratings Changes

Several research firms have recently commented on TTI. Weiss Ratings raised Tetra Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 8th. Northland Securities raised their price target on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Insider Transactions at Tetra Technologies

In related news, VP Kurt Hallead bought 22,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $9.86 per share, with a total value of $216,920.00. Following 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the sale, the chief executive officer owned 2,965,457 shares in the company, valued at $31,789,699.04. This trade represents a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.27% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Tetra Technologies by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,456,975 shares of the oil and gas company’s stock valued at $48,628,000 after purchasing an additional 174,028 shares in the last quarter. Rubric Capital Management LP bought a new stake in shares of Tetra Technologies in the 3rd quarter worth $26,046,000. Dimensional Fund Advisors LP raised its stake in shares of Tetra Technologies by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,419,796 shares of the oil and gas company’s stock worth $25,414,000 after buying an additional 72,338 shares in the last quarter. State Street Corp lifted its holdings in shares of Tetra Technologies by 11.2% in the fourth quarter. State Street Corp now owns 3,472,939 shares of the oil and gas company’s stock valued at $32,541,000 after buying an additional 350,051 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Tetra Technologies by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,090,503 shares of the oil and gas company’s stock valued at $28,963,000 after buying an additional 48,383 shares in the last quarter. Institutional investors and hedge funds 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.