Tetra Technologies (NYSE:TTI) Shares Down 9% – Time to Sell?

Shares of Tetra Technologies, Inc. (NYSE:TTI) traded down 9% during mid-day trading on Wednesday . The company traded as low as $10.38 and last traded at $10.3150. Approximately 1,044,978 shares changed hands during trading, a decline of 42% from the average session volume of 1,815,021 shares. The stock had previously closed at $11.33.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Northland Securities lifted their price target on Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday. Weiss Ratings cut Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.88.

Tetra Technologies Trading Down 9.9%

The company has a quick ratio of 1.20, a current ratio of 2.02 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $10.15 and its 200 day moving average is $9.85. The stock has a market cap of $1.36 billion, a PE ratio of 204.54 and a beta of 1.22.

Tetra Technologies (NYSE:TTI) last issued its earnings results 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 company had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $151.20 million. Tetra Technologies had a net margin of 1.15% and a return on equity of 10.50%. As a group, analysts predict that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, VP Kurt Hallead acquired 22,000 shares of Tetra Technologies stock in a transaction that occurred on Tuesday, June 9th. The stock was purchased at an average cost of $9.86 per share, with a total value of $216,920.00. Following the completion of the acquisition, the vice president owned 170,764 shares in the company, valued at $1,683,733.04. This trade represents a 14.79% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 TTI. AQR Capital Management LLC boosted its position in shares of Tetra Technologies by 87.3% in the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 in the last quarter. Jane Street Group LLC increased its holdings in Tetra Technologies by 389.7% during 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 in the last quarter. JPMorgan Chase & Co. raised its position in Tetra Technologies by 0.9% during the second quarter. JPMorgan Chase & Co. now owns 389,606 shares of the oil and gas company’s stock worth $1,309,000 after acquiring an additional 3,547 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Tetra Technologies by 74.4% during the second quarter. Prudential Financial Inc. now owns 17,790 shares of the oil and gas company’s stock worth $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.

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.