OP Asset Management Ltd Takes Position in Tetra Technologies, Inc. $TTI

OP Asset Management Ltd bought a new position in shares of Tetra Technologies, Inc. (NYSE:TTI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 94,747 shares of the oil and gas company’s stock, valued at approximately $807,000. OP Asset Management Ltd owned approximately 0.07% of Tetra Technologies at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vaughan Nelson Investment Management L.P. increased its stake in Tetra Technologies by 1.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 2,744,530 shares of the oil and gas company’s stock worth $23,383,000 after buying an additional 38,155 shares during the period. Diversified Trust Co boosted its position in Tetra Technologies by 9.3% in the 1st quarter. Diversified Trust Co now owns 49,655 shares of the oil and gas company’s stock valued at $423,000 after buying an additional 4,219 shares during the last quarter. Pullen Investment Management LLC boosted its position in Tetra Technologies by 0.9% in the 1st quarter. Pullen Investment Management LLC now owns 313,793 shares of the oil and gas company’s stock valued at $2,674,000 after buying an additional 2,902 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Tetra Technologies during the fourth quarter valued at about $45,000. Finally, Invesco Ltd. increased its position in shares of Tetra Technologies by 75.3% during the fourth quarter. Invesco Ltd. now owns 1,115,415 shares of the oil and gas company’s stock worth $10,451,000 after acquiring an additional 479,027 shares during the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $11.40 on Tuesday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 227.97 and a beta of 1.22. Tetra Technologies, Inc. has a one year low of $3.17 and a one year high of $12.54. The company’s 50-day simple moving average is $10.10 and its 200-day simple moving average is $9.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.20 and a current ratio of 2.02.

Tetra Technologies (NYSE:TTI) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. Tetra Technologies had a return on equity of 10.50% and a net margin of 1.15%.The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $151.20 million. Equities analysts anticipate that Tetra Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Tetra Technologies

In other news, VP Kurt Hallead purchased 22,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was acquired at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the acquisition, the vice president owned 170,764 shares of the company’s stock, valued at $1,683,733.04. The trade was a 14.79% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $10.25.

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.