Tetra Technologies (NYSE:TTI) CEO Sells $536,000.00 in Stock

Tetra Technologies, Inc. (NYSE:TTI) CEO Brady Murphy sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $10.72, for a total transaction of $536,000.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Tetra Technologies Trading Up 0.3%

TTI opened at $9.32 on Friday. The stock has a 50-day moving average of $10.18 and a 200 day moving average of $9.86. The company has a current ratio of 2.02, a quick ratio of 1.20 and a debt-to-equity ratio of 0.62. Tetra Technologies, Inc. has a 12 month low of $3.17 and a 12 month high of $12.54. The firm has a market cap of $1.24 billion, a P/E ratio of 186.54 and a beta of 1.19.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings data 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 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, research analysts forecast that Tetra Technologies, Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in shares of Tetra Technologies by 87.3% in the first quarter. AQR Capital Management LLC now owns 120,585 shares of the oil and gas company’s stock worth $405,000 after buying an additional 56,203 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tetra Technologies by 125.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,840 shares of the oil and gas company’s stock valued at $544,000 after acquiring an additional 90,001 shares during the period. Jane Street Group LLC grew its position in Tetra Technologies by 389.7% in the 1st quarter. Jane Street Group LLC now owns 225,101 shares of the oil and gas company’s stock valued at $756,000 after acquiring an additional 302,793 shares during the last quarter. JPMorgan Chase & Co. grew its position in Tetra Technologies by 0.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock valued at $1,309,000 after acquiring an additional 3,547 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Tetra Technologies by 74.4% in the 2nd quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 7,590 shares during the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TTI shares. Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Northland Securities boosted 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. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.88.

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.