Kurt Hallead Buys 22,000 Shares of Tetra Technologies (NYSE:TTI) Stock

Tetra Technologies, Inc. (NYSE:TTI) VP Kurt Hallead acquired 22,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the acquisition, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Tetra Technologies Stock Performance

NYSE TTI traded down $0.11 on Tuesday, reaching $9.81. The stock had a trading volume of 1,232,699 shares, compared to its average volume of 1,793,617. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.02 and a quick ratio of 1.20. The firm has a fifty day moving average of $9.55 and a two-hundred day moving average of $9.58. Tetra Technologies, Inc. has a 1-year low of $3.06 and a 1-year high of $12.54. The company has a market cap of $1.31 billion, a P/E ratio of 196.30 and a beta of 1.22.

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

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Tetra Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $10.25.

Institutional Trading of Tetra Technologies

A number of institutional investors have recently modified their holdings of TTI. Bank of America Corp DE lifted its position in shares of Tetra Technologies by 82.7% during the 1st quarter. Bank of America Corp DE now owns 1,131,254 shares of the oil and gas company’s stock worth $9,638,000 after buying an additional 511,979 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Tetra Technologies in the first quarter valued at about $2,874,000. California State Teachers Retirement System boosted its stake in Tetra Technologies by 36.4% in the first quarter. California State Teachers Retirement System now owns 164,954 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 44,059 shares in the last quarter. Royal Bank of Canada boosted its stake in Tetra Technologies by 133.1% in the first quarter. Royal Bank of Canada now owns 9,164 shares of the oil and gas company’s stock valued at $78,000 after buying an additional 5,232 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Tetra Technologies by 5.0% in the first quarter. Empowered Funds LLC now owns 642,630 shares of the oil and gas company’s stock valued at $5,475,000 after buying an additional 30,656 shares in the last quarter. 70.19% of the stock is currently owned by institutional investors.

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.