GSA Capital Partners LLP Invests $1.13 Million in Tetra Technologies, Inc. $TTI

GSA Capital Partners LLP bought a new stake in Tetra Technologies, Inc. (NYSE:TTI) in the second quarter, Holdings Channel.com reports. The firm bought 99,605 shares of the oil and gas company’s stock, valued at approximately $1,129,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. F m Investments LLC purchased a new stake in Tetra Technologies during the 4th quarter valued at about $958,000. Edgestream Partners L.P. purchased a new position in Tetra Technologies in the 1st quarter worth approximately $2,874,000. Heartland Advisors Inc. boosted its holdings in shares of Tetra Technologies by 69.0% during the 1st quarter. Heartland Advisors Inc. now owns 613,800 shares of the oil and gas company’s stock worth $5,230,000 after purchasing an additional 250,650 shares during the last quarter. Encompass Capital Advisors LLC grew its position in shares of Tetra Technologies by 10.7% in the first quarter. Encompass Capital Advisors LLC now owns 3,201,953 shares of the oil and gas company’s stock valued at $27,281,000 after purchasing an additional 310,363 shares in the last quarter. Finally, Sei Investments Co. grew its position in shares of Tetra Technologies by 71.0% in the first quarter. Sei Investments Co. now owns 438,084 shares of the oil and gas company’s stock valued at $3,732,000 after purchasing an additional 181,872 shares in the last quarter. 70.19% of the stock is owned by hedge funds and other institutional investors.

Tetra Technologies Stock Down 1.5%

Shares of NYSE TTI opened at $8.42 on Tuesday. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 210.55 and a beta of 1.25. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. Tetra Technologies, Inc. has a 52-week low of $3.89 and a 52-week high of $12.54. The business’s 50 day moving average is $9.26 and its two-hundred day moving average is $9.53.

Tetra Technologies (NYSE:TTI) last released its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.The company had revenue of $185.66 million for the quarter, compared to analysts’ expectations of $176.16 million. During the same period in the prior year, the firm earned $0.08 earnings per share. Research analysts predict that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at Tetra Technologies

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 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. The trade was a 14.79% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brady M. Murphy sold 50,000 shares of the firm’s stock in a transaction dated 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 owned 2,965,457 shares of the company’s stock, valued at $31,789,699.04. This trade represents a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TTI has been the topic of a number of analyst reports. Northland Securities lifted their price objective on Tetra Technologies from $11.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.83.

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.