Heartland Advisors Inc. Buys Shares of 1,000,100 Tetra Technologies, Inc. $TTI

Heartland Advisors Inc. purchased a new stake in Tetra Technologies, Inc. (NYSE:TTI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,000,100 shares of the oil and gas company’s stock, valued at approximately $11,331,000. Heartland Advisors Inc. owned 0.68% of Tetra Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its position in Tetra Technologies by 5.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 24,819 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 1,272 shares during the period. ProShare Advisors LLC grew its holdings in shares of Tetra Technologies by 6.7% during the 4th quarter. ProShare Advisors LLC now owns 23,179 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 1,452 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Tetra Technologies by 31.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 6,204 shares of the oil and gas company’s stock worth $58,000 after purchasing an additional 1,473 shares during the last quarter. LPL Financial LLC increased its position in shares of Tetra Technologies by 9.7% during the 4th quarter. LPL Financial LLC now owns 19,626 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 1,739 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Tetra Technologies by 2.5% in the 3rd quarter. Sei Investments Co. now owns 73,170 shares of the oil and gas company’s stock valued at $421,000 after buying an additional 1,754 shares during the period. Institutional investors and hedge funds own 70.19% of the company’s stock.

Insider Transactions at Tetra Technologies

In other Tetra Technologies news, VP Kurt Hallead purchased 22,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were bought at an average cost of $9.86 per share, for a total transaction of $216,920.00. Following the completion of the purchase, the vice president directly owned 170,764 shares of the company’s stock, valued at approximately $1,683,733.04. This trade represents a 14.79% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brady M. Murphy sold 50,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $10.72, for a total transaction of $536,000.00. Following the sale, the chief executive officer directly owned 2,965,457 shares in the company, valued at $31,789,699.04. This represents a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TTI. Weiss Ratings lowered shares of Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, August 4th. Northland Securities boosted their price target on shares of Tetra Technologies from $11.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Tetra Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Tetra Technologies Trading Down 0.6%

TTI opened at $7.19 on Friday. Tetra Technologies, Inc. has a 52 week low of $4.24 and a 52 week high of $12.54. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $9.04 and a 200-day simple moving average of $9.43. The firm has a market cap of $1.06 billion, a P/E ratio of 179.79 and a beta of 1.25.

Tetra Technologies (NYSE:TTI) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%.The firm had revenue of $185.66 million for the quarter, compared to the consensus estimate of $176.16 million. During the same quarter in the previous year, the business earned $0.08 EPS. On average, equities analysts expect that Tetra Technologies, Inc. will post 0.26 earnings per share for the current year.

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.